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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Sec 165(i) losses and stock disposition
Sec 165(i) losses and stock disposition
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eeyore
Level 3
06-29-2020
11:27 AM
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My client invests in stocks, and as a result of COVID-19, suffered losses due to the decline in market. Since the President declared COVID-19 a federal disaster, I believe it's possible to make an election to take the stocks sold at a loss in 2020 as a result of COVID-19, and apply them to 2019. I see where the actual election is made, but do I have to do anything in the disposition screen to identify these stock sales as being attributable to Sec 165(i)?
Thanks!
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