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Yes, if your broker were still in business you could sell it for net $1.00
to create the loss. Most of the time when a firm goes out of business the
accounts are aquired by another firm...... ??? If you have proof that
this stock is no longer trading you can write it off your taxes... if they
ever come back in business then you would have to deal with that
...(Disclaimer) I'm not a CPA.. I'm only speaking from past experience. . .
so might best contact your CPA or tax service provider.
----- Original Message -----
From: <Vaugh002@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, October 09, 2001 8:49 AM
Subject: [RT] Tax loss question
> Take a stock like owld ,now worthless out of business ,...when to tke a
loss
> this year or next.... Broker held stock, now he is out of business.... can
> not sell it , could I give it away without certifcate or just enter zero
> and claim it sold. Three will be many like this one for investors to deal
> with this year... Thay will cost more to sell than they are worth ..does
> Uncle Sam give any relief here thanks tom
>
>
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>
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