Old Gm: Motors Liquidation Stock Is Mostly A Tax Writeoff

Q: Does the General Motors stock I own have any value? Should I just take the loss for tax purposes?

Topics:  general motors   should i   stock   tax   
  • U.S. judge to approve plan that pays GM creditors
    That breakdown includes 150 million shares of common stock, a warrant to acquire 136.4 million shares at $10 per share and a warrant to acquire 136.4 million shares at $18.33 per share. Motors Liquidation ... a 20 percent tax on imports would raise funds ...
    03/2/2011 - 11:00 am | View Link
  • No stock exchange for old, new GM shares
    But investors who are holding the old GM stock are probably not so elated. Their shares are nearly worthless, except to those who sell them to lock in their losses for tax-deduction purposes ... GM is now known as the Motors Liquidation Co. It is separate ...
    11/16/2010 - 11:00 am | View Link
  • Getting Our Money Back: Did the GM Bailout Work?
    The $49.5 billion investment consisted of $2.1 billion of 9% Series A Preferred stock, $6.7 billion of debt ... (hereafter “GM”) and Motors Liquidation Company (OTC:MTLQQ) (MLC) from Old GM. MLC contains the less desirable “assets” of Old GM ...
    11/1/2010 - 11:42 pm | View Link
  • Can You Deduct A Loss For Your Worthless Gm Stock?
    One of the many spectacular failures of 2009 was General Motors. Unbelievably, GM went from one of the most important companies and stocks in the nation to a penny stock. GM got a bailout, but its shareholders didn't. With tax time at hand, you may be ...
    04/11/2010 - 1:00 pm | View Link
  • GM investors left holding bag
    As investors know too well, stock in the “old” General Motors was shipped to the junkyard last year. Even the iconic GM ticker symbol has vanished. So now that it’s tax time ... share became a share in Motors Liquidation, and those shares are ...
    02/18/2010 - 11:00 am | View Link
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