*The Commerce Journal>>>United States Taxes

Declaring Tax loss for stock market?

I lost few thousands on the market, but I didn鈥檛 sell the stock with a hope for it to regain itself.
do I really need to sell it in order to declare a real loss or can I calculate by, say the value at the last day of the yr.
thank you much.

If you haven't sold it, you have "unrealized" losses.

You must "realize them" (sell them) to put them on your tax return. And you can't rebuy the stock for 30 days before or after realizing that loss (otherwise the loss is postponed).

Have to sell to take the loss, sorry.
You also cannot buy it back for at least 31 days or you won't be able to take the loss either. Considered a wash sale.

Hope this helps.

You declare a gain or loss when you sell stocks.

You need to sell to declare the loss, and you need to have a gain to balance against the loss. Or you can take the loss now, I believe, and declare it against gains you make next year.

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