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A single taxpayer purchases stock directly from a local small business in 2014. At the time the business had less than a million in captial.
A single taxpayer purchases stock directly from a local small business in 2014. At the time the business had less than a million in captial. In 2020 you decide to sell the stock to another investor generating a $2,000 loss. This is your only stock sale for the year. How does this loss affect your 2020 taxes?
a.) $0, loss is not deductible
b.) $2,000 long-term capital loss
c.) $2,000 short-term capital loss
d.) $2,000 ordinary loss
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