I received a "non-taxable stock spin off" at Ameritrade which came with a 30.85 cost basis in the spin-off notice. Later sold the spin-off stock at 17.80. Is this a loss (relative to the given cost basis), or a profit since I never paid for anything for it? The original stock lost as much value before and after the spin-off, so overall the net was never a plus.
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Yes, in the example in the question you have a capital loss on the sale of the stock.
It is reported as follows:
To enter your Investments sold
Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button
Yes, in the example in the question you have a capital loss on the sale of the stock.
It is reported as follows:
To enter your Investments sold
Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button
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