726
SpaceX stock drops to a new low and loses $1 trillion in value in a month
(www.businessinsider.com)
this post was submitted on 18 Jul 2026
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I think you have a free concepts incorrect. You can't write off the lose unless you sell, and you are capped at 3k a year loss write-off as an individual.
Also elon hasn't sold any shares so this isn't relevant to him. I'm taking about other that want Elon to pay taxes on unrealized gains. What do you do in a situation were he paid taxes on unrealized gains and the stock losses value. Do you get a refund?
You are taxed on your realized gains, absolutely. You can only write a maximum of $3k in losses off your total wages + investments income. But that's net losses. So, if you report a $50,000 gain and a $40,000 loss off two transactions in a year, you report a net $10,000 realized gain for the year as Schedule B (investment) income.
In the reverse scenario ($50k loss, $40k gain), you could deduct $3k from your wage income and start the following year with a $7k loss.
In an extreme example - $50M loss - you can spend the rest of your life writing down against it. This creates an incentive to overstate the value of property when you are writing it down in bankruptcy (a popular maneuver among the Trump clan).
I get all that but that didn't answer my question.