I have occuered loss in shaers how to account for this in my tax return. I have traded in stock first time.?
Question:
Answer:
you don't claim anything until you sell the stocks.
if you make a profit (capitol gains) then you pay a tax.
Stock loss gets netted against the stock gain. They are called capital gains and losses and are reported on Schedule D of Form 1040. If you have net loss after combining them together, then you can offset your taxable income by up to $3000. If you have more loss than that, that gets carried over to the subsequent year. 'Hope that helps.
(By the way, please note the spelling of "occurred" and "shares".)
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