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Get your taxes done using TurboTax
You can deduct the investment in the tax year it becomes completely worthless. This normally happens when the corporation files for bankruptcy, stops doing business, and has no assets. Financial difficulties won't make it worthless unless there is no hope that the company will pull through.
Additional information: Can I Take a Tax Deduction for a Bad Investment?
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March 29, 2023
8:17 AM