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Re: Romans623 post# 131095

Wednesday, 10/29/2014 6:39:39 PM

Wednesday, October 29, 2014 6:39:39 PM

Post# of 148335
Some brokers will buy a stock that has been at no-bid status for an extended time from the client in a "worthless stock transaction," often paying a penny for the lot at full or reduced commission. Call your broker to ask if this is an option.

http://www.kiplinger.com/article/investing/T052-C001-S001-how-to-sell-worthless-stock.html

Even if a company goes bankrupt, the IRS may not consider its stock to be worthless. However, if your broker buys your stock in such a transaction, the loss realized in the sale should qualify as deductible subject to the annual net loss limit of $3,000. If net losses are greater, the excess amount can be carried over to subsequent years.

http://www.irs.gov/publications/p17/ch14.html

Even though PVEC has had no published bid for several weeks, trades do still occur from unsolicited bids so a broker may not yet consider it dead, especially if the client has not made a continuous effort to sell it at market.

When these worthless stock transactions occur, they are shown at the lowest price available for reporting, $.0001/share. A lot of volume in worthless stocks toward the end of the year may actually be such transactions.