Lopezian's Profile
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Nice thought, allmyshoes. Our dodgy investments in KRY are nice problems to have. Good on yer.
Lope
Thanks for turning this up, IFY. Extends a shred of hope.
Hey, A-D, I'm 83 as well, but my own email from Delna is giving me hope. Hang in there, Old Timer.
Hey, Troops, we're good at waiting, right? Hang in there...and there...and there.
Football, Pam, is the opiate of the masses.
Go, Seahawks.
(Maybe you could demonstrate your loyalty--call it Patriotism--by sending Tommy an air pump.)
;)
XXOO,
Lope
Laura,
Having read Goldpilot's detailed remarks, maybe a variation on his theme would work: sell the shares to a family member or friend for a dollar or so. The shares could be transferred from your account to the investment account of your chosen recipient.
You could work this a number of ways. If the recipient was indeed a congenial member of your family, you might choose to grant them the benefit of the full potential gain in value. Or it might make sense to have a sharing agreement, say, 50/50. In any case, if you had a notarized bill of sale the IRS should be satisfied you've taken a capital loss. Any prospective retrieval of value thereafter would be handled as ordinary income.
(I trust you're aware, on the other hand, you have a year after the sale of your home to reinvest in another one of equal or more value--and thus avoid a cap gain tax liability altogether.)
I've found myself in similar situations over the years, and always have to remind myself: such problems are nice ones to have.