Two years ago (1998) to friends and I started a corp. (Chapter S) and each invested $1000 for the stock. Late '99, we closed out the business and each took the remaining funds ($1800) and divided it up between us and sold the stock back. Can we take the $400 loss on the stock as a capital loss on taxes?? And yes, we held the stock for more that 12 months.ThxJeff
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