Medinah Minerals (MDMN)

[Beth0515]

United States taxpayers who lost more than $3000.00 on MDMN and do not have gains to offset the loss against rather and than be limited to the tax code limit of $3000.00 could try to deduct 50% of the loss as a casualty loss on the theory that it was stolen by Les.
You might be able to claim this 50% loss even if you don't sell your shares.
What would you have to lose?
The IRS might not approve but if you are open about the reason the loss is claimed what have you done wrong?
Discuss this with your tax advisor. Do not take this post as tax advice.

Good idea, don't. A casualty loss occurs when a taxpayer sustains a loss based on physical damage to property. Decline in value doesn't count, damage must be physical. Being "open" about a factually indefensible position could cost you everything.

What would you have to lose?:

-substantial understatement of tax penalties related to the denied deduction
-noncompliance, negligence, accuracy-related, etc., penalties... These, plus interest, could double the tax and legal fees,... Go for it!!
-potential criminal exposure

We've already lost by investing in this ridiculous pig. It ain't coming back. Write it off and move on, or just forget about it and check back in in 5 years. There is a possibility we've not been delisted at that point. Don't be reckless by attempting to rewrite the tax code. There is ZERO arguable basis for such a position.

In the meantime, ENJOY, enjoy the 9th consecutive year of "tax loss selling". MDMN rocks!

MORE SHARES FOR LESS MONEY...!!! 9 YEARS IN A ROW...!!!...!!!!