1.Gather youritemized deductions:Collect all the necessary documents, such as receipts, statements, and forms, that relate to your deductible expenses. These may include medical bills, property taxes, mortgage interest statements, charitable contribution receipts, and unreimbursed business expenses. 2.Ca...
Meeting the Gross Receipts Test For stock to be considered Sec. 1244 stock in the year the shareholder realizes the loss, the corporation must meet a gross receipts test (Sec. 1244(c)(1)(C)). Under this test, during the five most recent tax years ending before the date the loss was ...