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?
    Each share of GM stock became a share in Motors Liquidation. While it was widely reported ... If the security became completely worthless during the tax year, you can take a loss treating the security as if it were sold for $0 on the last day of the ...
    09/10/2013 - 1:00 pm | View Link
  • No stock exchange for old, new GM shares
    It was a hallelujah moment when GM repaid taxpayer-backed loans five years ahead of schedule. And now the company is planning to sell millions of new shares of common stock for $32 to ... GM is now known as the Motors Liquidation Co. It is separate and ...
    11/16/2010 - 11:00 am | View Link
  • New GM Could Get Billions in Tax Breaks from Motors Liquidation, Also Known as Old GM
    at least for tax purposes. Motors Liquidation is also known as "Old General Motors," the assets "New GM" dumped in bankruptcy. It's been more than a year since General Motors went bankrupt, reorganized as New GM and put together the current GM initial ...
    11/8/2010 - 12:31 am | View Link
  • Old GM, Motors Liquidation, files plan to revamp
    while another will parcel out the GM stock held by Motors Liquidation to unsecured creditors with accepted claims, the company said. MLC owns 10% of GM plus warrants on another 15% fully diluted. And the company could receive as much as 2% more of GM if ...
    08/31/2010 - 5:45 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
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