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Re: can someone answer this?
by: webgaap
03/22/02 01:31 am
Msg: 12 of 114
 
JL:

Depends....you say it was incorporated. If a C corp, the corporation will file a final return with resulting loss. To the extent you purchased shares in the company, you may have a capital loss but it will be limited to 3K for this year (carryforward remaining to future years with capital gains). If the "incorporation" was an LLC or other pass through entity, the outcome may be different.

Paul A. Mackey
The Mackey Group
Accounting & Tax Advisors
pmackey@ureach.com or
313-269-0131


 Posted as a reply to: Msg 10 by jl_666666  
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