Fidelity has cut X’s value by 79% since Musk purchase https://t.co/6MEQj5BPMP
— TechCrunch (@TechCrunch) September 30, 2024
Fidelity has cut X's value by 79% since 's purchase
https://techcrunch.com/2024/09/29/fidelity-has-cut-xs-value-by-79-since-musk-purchase/
- 24
- 51
Jump in the discussion.
No email address required.
!lawyers any tax lawcels here?
I have a limited understanding of this concept but can't write a bunch of this loss off? If he can, could this be applied to spaceX and Tesla or is it solely apply to personal accounts?
I heard people will buy property to say their business is operating at a loss that year while maintaining it as an investment essentially.
Either way musk wanted control of narrative which is why he bought it. Same way Bezos bought Washington Post while it bleeds money.
Jump in the discussion.
No email address required.
He realizes the loss when he sells shares in the company, and then he can deduct that from capital gains he had from selling other things (and to a very limited extent from other income that's not capital gains). But you don't get ahead by losing money and then deducting the loss; that's like losing a dollar and being happy you saved a quarter or two.
I'm assuming here he personally owns the shares (don't care enough to look at the details) but similar principles apply for more complicated situations.
Jump in the discussion.
No email address required.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context