Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I can help you with your first question.

No you can not use the S-corp as another taxpayer to take an additional $3,000 of capital losses on your personal return. All income is passed through from the S-Corp to your personal return if the corp has any investment gains or losses those are seperately stated items on the K-1 so they will not offset any of the corporation income directly. Those gains or losses will pass through to you and be reported on the Schedule D with your other activity.

I use TDWaterhouse and I like there year end statements. Easy to read and they show all of my activity throughout the year. At least they did last year.

Will your accountant figure out the wash sales for you. Sure if you have all of the information for him or her. Unfortunately, that is personal information and brokerage house will only give you information about your account, so the accountant can not "get" that information for you.
Print the post  

Announcements

Disclaimer:
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.