(This FAQ is related to the portfolio cleanup solution)
In most cases, a capital loss must be “realized” in order to be “recognized”. The issue is providing sufficient proof of sale before claiming realized loss for tax purposes complying with tax authorities’ regulations and requirements.
EOL Capital irrevocable share purchase agreement is definitely good document that support this claim. Ask yourself, how do you prove it is worthless and became worthless in the current taxable year? Selling your “worthless asset” to EOL Capital provides documentation that your loss is realized in that year.
The first question you need to answer is selling to a friend or family member is really “negotiated”, arms-length sale? EOL Capital provides a valid Share Purchase Agreement and share transfer deed you can use to demonstrate an arm’s-length sale, A “True sale” with no suspicion or appearance of buy-back rights.
Our documentation can be especially important if you have a requirement for audited financial statements.
Our online process saves you time and hassle. You also can save money on attorney’s fees.
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