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:
  • 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 ...
    09/7/2014 - 8:31 pm | View Link
  • GM stock, warrants being sold
    Motors Liquidation Co. said in the filing with the Securities and Exchange Commission that the stock and warrants being sold starting ... The nation’s second largest tax preparer said its lenders agreed to a restructuring plan to lower debt and interest ...
    05/25/2011 - 12:00 am | View Link
  • Those with old GM stock will be at end of the line
    General Motors issued new stock Thursday ... But investors holding the old GM stock are probably not so elated. Their stocks are nearly worthless, except to those who sell shares to lock in losses for tax-deduction purposes. If you are still holding ...
    11/20/2010 - 2:37 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 ... The old bankrupt GM is now known as the Motors Liquidation Co. It is separate and distinct from the new General Motors. One would think that after the well-publicized ...
    11/16/2010 - 11:00 am | 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
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    10/27/2014 - 6:37 am | View Website
  • The Leftovers of GM, Motors Liquidation Co. (MTLQQ) is ...
    Motors Liquidation Co. (MTLQQ.PK) is what's left of General Motors, now known as "Old GM" and is the last of the tough assets consisting of manufacturing plants ...
    10/26/2014 - 5:15 pm | View Website
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