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He doesn't get to take this as a loss though, he's giving it away. It would be a loss if he invested in Twitter and then sold at a lower price.
by wellsjohnston 11y ago
He doesn't get to take this as a loss though, he's giving it away. It would be a loss if he invested in Twitter and then sold at a lower price.
- gsibble 11y agoTwitter is buying the stock back from him at $0. You can't just donate stock to a company. That stock's nominal value is $200,000,000. So he takes a loss of $200,000,000 which he can write off against any gains he gets from Square's sale.
- corysama 11y agoOption 1) $200MM loss today, $200MM gain tomorrow, $0 taxes in April. Net result: $0 Option 2) Keep your $200MM today, $200MM gain tomorrow, $70MM taxes in April. Net result: +$130MM Why would anyone want Option 1?