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   
BING NEWS:
  • Ford: Why We Disagree With Berkshire On Ford Vs. GM
    Despite the fact that GMAC had 50% more revenues than Ford Motor Credit in 2005, Ford Motor Credit's pre-tax ... Motors Liquidation Trust (Old GM) (5.2%). In contrast, the Ford Family controls 40% of Ford's voting rights through its Class B super-voting ...
    06/14/2012 - 9:55 pm | View Link
  • Susan Tompor: Time to claim tax loss on GM shares
    It was not until March 31, 2011, that Motors Liquidation Co. -- the new name for the old GM stock -- stopped trading in the over-the-counter market when it closed at 4 cents a share. So, the 2011 tax return becomes the key time to book a tax loss for a ...
    03/24/2012 - 9:00 pm | View Link
  • Singletary: GM's old stock not worth much
    But investors who are holding the old GM stock are probably not so elated. Their stocks are nearly worthless, except to those who sell shares to lock in their losses for tax-deduction ... GM is now known as the Motors Liquidation Co. It is separate and ...
    11/16/2010 - 1:49 pm | 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
  • 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 ...
    04/10/2010 - 1:00 pm | View Link
  • Uncle Sam Refuses To Pay For Old GM Stock, Probably…
    Moreover, shares in Motors Liquidation will emphatically not be exchanged for stock in the New GM when it makes its IPO later this year. It seems that bad news should lead to some good news: a 2009 tax write off. For the non-financially minded, a tax write ...
    02/15/2010 - 11:00 am | View Link
  • You can get tax break on old GM stock, if you unload it
    Now that the big automaker is on the mend after a quick bankruptcy, Lisk wonders whether maybe her old GM stock could end up being worth something after all. It won't. "I'm very disappointed," she said. With tax time ... a share in Motors Liquidation ...
    02/14/2010 - 11:00 pm | View Link
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