Wednesday, December 04, 2019 9:07:27 PM
To actually establish your loss you will need to sell these shares to your broker for some nominal amount, or dump them on the OTC. (Which is not an Exchange). Exception is if the company is insolvent and you have documentation to establish this fact. In other words, you may think the shares are worthless but that doesn’t make it so.
If your stock meets the IRS guidelines for being a worthless stock, you would still need to sell these stocks through your broker in order to claim the losses.
An example of mistakenly claiming a stock to be worthless and/or worth “zero” is in fact KMAG, which had a previous close of $0.0001 and closed today at $0.001 (from ETrade data).
favorite.pinkies@yahoo.com
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM