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Posted: 12/28/2005 3:31:48 PM EDT
[Last Edit: 12/28/2005 3:32:41 PM EDT by bluepaddle]
how do i document a capitol loss?
i lost about 3,000 in an investment and would like to declare it on my 2005 taxas.
what paperwork do i need if or when i get audited?

ed to ask, how much can i expect to get back from the IRS?

thanks.
bp
Link Posted: 12/28/2005 3:40:15 PM EDT

Originally Posted By bluepaddle:
how do i document a capitol loss?
i lost about 3,000 in an investment and would like to declare it on my 2005 taxas.
what paperwork do i need if or when i get audited?

ed to ask, how much can i expect to get back from the IRS?

thanks.
bp



Can you document somehow that the investment is worthless? Did you receive any cash out of the deal? Not enough info to give you any advice.

Amount back from the IRS depends on what your tax bracket is, what amount you've paid in, etc.
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