Had Stock Transactions
Invested in Stocks
you invest in stocks, bonds, or mutual funds, you may be able to deduct certain
expenses related to your investments. These expenses are your allowed
deductions (other than interest expense) directly connected with the production
of investment income. Investment expenses are included as a miscellaneous
expense on Schedule A subject to 2% AGI.
Own Worthless Stock
When you have stocks that have become completely worthless, you need to report them on Form 8949, Sales and Other Dispositions of Capital Assets, with your purchase date and December 31 as the date sold. This will determine whether this is a short-term or long-term loss.