I had a loss of about $9000 on Google Call options which expired underwater the same month I bought them.
2007-02-27 09:45:41 · 4 answers · asked by Bruce C 1 in Business & Finance ➔ Taxes ➔ United States
You had a short-term capital loss. If the loss is not subject to wash-sale rules or straddle rules you simple claim the loss on Schedule D. (Use the expiration date as the date sold.)
If your capital losses for the year exceed your capital gains for the year you can offset regular income, but there is a maximum you can offset per year.
2007-02-27 10:15:00 · answer #1 · answered by zman492 7 · 0⤊ 0⤋
If they expired in 06, then you enter them on sched D with a cost of $9,000 and a sales price of 0. If you held them 1 yr or less, it's short term. More than 1 yr, long term. You can only deduct $3,000 per year in capital losses (net of all sched D activity) but you can carry the remaining $6,000 (or whatever it is if that wasn't your only Sch D transaction) forward to subsequent years.
2007-02-27 10:23:44 · answer #2 · answered by LC 2 · 0⤊ 0⤋
Short Term Capital Loss subject to normal capital loss limitations.
2007-02-27 09:53:32 · answer #3 · answered by Wayne Z 7 · 1⤊ 0⤋
u can claim short term loss & adjust agst any other gain
2007-02-27 14:01:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋