Loading ...Berkshire is said to be due to a new rule that mandates the reporting of unrealized gains or losses in stock investments as net income. As a result, Berkshire was required to report a $6.3billion loss in investment income from January to March, making the first quarter of 2018 the first time that Berkshire has had a net loss since 2009,
Comment: It all sounds like Mark to Market to me. I used to have do it every year before filing the tax return. Profits and losses have to be tallied up. Like taking inventory. Even if you are sitting on a nice fat unrealized profit, you have to declare the profit, as if you sold it. Losses can be deducted against other income. Plus no wash sale rules.