Do I have to "sell" a stock in order to write it off as a loss? Or can I deduct what it lost from the time of purchase till the end of the taxable year (2008), but still owning it?

If the stock has to be sold in order to use it as a deduction, what is the latest date it can be sold in order to be used as a deduction for 2008?

You have to sell it to claim a loss, otherwise it is just a "paper loss" and you haven't realized the loss.

Should have been sold on or before 12/31/08 to be on your 2008 taxes