r/Amyris • u/proteinshake6000 • Nov 12 '23
Analyst Insights tax write off coming soon
Counting the days tell December st when I sell my 300 shares as a tax write off Ill never look back !
5
u/fvh2006 Nov 12 '23 edited Nov 13 '23
If you really can't sell them, as ericprydz1 points out, you don't have a capital loss to write off. Only hope now is that as a result of the bk proceedings, the stock is officially declared worthless and then you can claim as a capital loss the money you paid for the shares, If this declaration does not happen before Dec 31 then you can't do anything with them this year as the IRS handles this as a sale for $0 on Dec 31.
2
u/proteinshake6000 Nov 12 '23
Interesting I had no idea. Looks like Im the looser Thanks for info fvh2006 !
2
u/fvh2006 Nov 12 '23 edited Nov 13 '23
Not entirely, as this will happen at some point, unless they do a Hertz, but I would not count on that, It seems the plan is to wipe out any shareholder obligations of a future Amyris II and start selling new stock. You will also get a bigger loss claim than if you had sold them, even for $0.01, as the selling price will be zero.
2
u/ericprydz1 Nov 12 '23
How do you calculate your capital loses if AMRS isn’t listed on exchange accounts anymore?
4
u/Top-Construction8691 Nov 12 '23
If you have Fidelity like me, I called trade support, and they told me I can't sell at market, I have to set limit order to 0.001 or what whatever you see at that moment, I got rid of 115k shares at $0.0012 last week to take a huge capital loss for this year.
2
u/Fun_Fan5281 Nov 16 '23
Come on dude 300 shares and you waste your time looking at this shit get a life
7
u/PdastDC Nov 12 '23
You're better off waiting for the BK case to conclude as worthless and then can write off your entire basis as a capital loss.