Mr Cooper Group Inc (COOP)

[CBA09]

Ref: No it's not. It is neither a R-45 nor does it say Capital Loss, these are NOLs, Net Operating Losses.

Comment:
The abandonment of stock that has "No"liquidation value ( i.e., worthless ) is initially a capital loss with capital loss limitations. Capital loss limitations as follows:

1) $ for $ loss against Capital Gains.

2) $ 3K per year against ordinary income.

But since WMI had controlling interest, 80% or greater in WMB, the IRS regulations / code allows for a reclassification to ordinary loss thus giving rise to $ 5.9 Billion NOL. Being that the $ 8.3 Billion worthless stock gave rise to a $ 5.9 Billion NOL the Book net income was @ 2.4 Billion ( 8.3 minus 5.9 ) prior to $ 8.3 deduction.