Parents Dependent Capital Loss Claim

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Subject Author Date Parents Dependent Capital Loss Claim saurinmehta 10-08-2009  Re: Parents Dependent Capital Loss Claim Bob Sandler 10-08-2009
Posted by saurinmehta on October 8, 2009, 8:52 pm Please log in for more thread options My parents does not have any income. My spouse and I have been claiming them as dependent for few years now in our joint return. Last year in 2008, I invested my money in my parents brokerage account and made a overall loss of $5,400. I deposited my money on their account to do investment My question is: 1) Can I claim my dependent parents under my return, if not do they have to file tax return 2) Who can claim capital loss a) If I claim them as dependent can I claim that loss and have deduction in my tax b) If they have to file their return how can they claim loss deduction if they don't have any income c) any other option Thanks for help in advance Mehta ------------------------------------- ##-----------------------------------------------## Newsgroup Access Courtesy http://www.rockryno.com/ Tax and Accounting Software Forums Web and RSS access to your favorite newsgroup - misc.taxes.moderated - 23273 messages and counting! ##-----------------------------------------------## . -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Bob Sandler on October 8, 2009, 9:24 pm Please log in for more thread options You asked the identical question on September 28 with a slightly different subject line: "Dependent Parents Capital Loss Claim." You received three answers. The answers are not going to be any different now. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Dependent Parents Capital Loss Claim September 28, 2009, 7:57 pm How to Claim Capital Loss from Debtor Chapter 11 Bankruptcy March 23, 2008, 9:38 pm dumb question: Can I claim dependent's capital loss or gain? March 20, 2007, 1:38 am Children May Now be Treated As Dependent of BOTH Parents. August 19, 2008, 10:13 am When A Child Is Treated As A Dependent of Both Parents: Divorced - Separated or Living Apart August 18, 2008, 4:03 pm Regarding whether or not my father can claim me as a dependent. March 4, 2007, 9:09 pm How to claim stock loss? April 12, 2007, 12:06 am How to claim loss on a defunct LLC?? April 17, 2006, 12:05 am Capital loss? ? ? January 23, 2009, 12:57 pm capital loss carryovers May 11, 2007, 5:49 pm