Tis tax time---a question for the boardLike everyone, I love making money, especially on the stock market.
But the gov't likes their pound of flesh as well.
I do my own tax return and this year I am looking at a Capital gain a little over $200,000.
Unfortunately, I have run out of past years Capital losses to claim against.
But:
I am curious about what happens when a Company has halted trading?
As an example:
jr owns a million shares of Matica with an outlay of $500,000.
But:
Matica was halted from trading in early 2023. This has prevented an investor like jr to be able to sell his $500,000 worth of stock for even a penny. If allowed, jr would have been able to claim a Capital loss of his $500,000 - $10,000 (selling his 1 million shares at $.01 each).
Is there any hope for an investor like jr to be able to claim his substantial loss?
This all presumes he will have any Capital Gains in the future, which might appear doubtful.
Thanks to anyone, especially jr on explaining this situation to me!
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