Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I understand that you can only deduct $3,000 a year of a loss (like WorldCom if/when it declares bankruptcy). I have a whole lot more than that invested in WorldCom, and no gains. Someone said there is a five year limit on the deduction, and since the loss is way over $20,000, that wouldn't cover it. I bought the stock options as an employee, and paid the taxes up front. Am I just screwed yet again?

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.