A security that is a capital asset becomes worthless.The loss is deemed to have occurred on the first day of the tax year that the security becomes worthless.

Name: A security that is a capital asset becomes worthless.The loss is deemed to have occurred on the first day of the tax year that the security becomes worthless.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The loss is deemed to have occurred on the last day of the tax year in which the security becomes worthless, not the first day.

A Security That Is a Capital Asset Becomes Worthless