Time for me to take my loss on 425 shares of Elio stock.

[Donnyboy]

I purchased 425 shares of Elio stock for $5,100 in 2015. I have finally decided that I will write off the entire $5,100 as a tax loss for 2023. If for some reason ice crystals form in hell then I'll have to figure out how to reverse the tax loss.

 

[JEBar]

sadly, there is absolutely nothing out there to indicate that you've made a bad decision

 

[Interested]

This brings up an interesting question. I wonder if Paul has been writing off his stock at a loss based on his income. If he is only writing off a percentage each year, he would need to keep Elio Motors active or he would have to write it all off at once. I don't think you can write off more than you've made. (I'm not a tax accountant). Anybody have a clear answer?