We have a better chance of winning the Mega Millions Lottery on Tuesday AND the Powerball on Wednesday than TMPS coming back from the dead! (IMO)
After the rep said "it's not worthless",I would have immediately asked him "how much will you give me for my shares?"
With that, my worthless shares are in IRA accounts. I did hold some warrants in my regular account. They expired worthless in July 2020 and showed up as a loss on my year-end TD Ameritrade statement. (I know that's not the same thing)
But this conversation prompted me to take action on 2 other delisted/defunct stocks in my regular account. They appear in my account just like the TMPS shares; symbol is gone and now a CUSIP number appears. One died September 2019 & the other August 2020. I sent TDA an email asking them to have them removed/sold so I could claim them as a tax loss. I pasted the email text reply. (too lazy to make a picture of it)
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Hello,
Thank you for giving me the opportunity to assist you today.
It is understandable that there can be confusion on how to deal with a stock that no longer has value. It doesn't simply disappear once the price reaches zero so I will explain the removal process.
When a stock stops being traded, you still retain ownership of the shares because it is possible the company could begin trading again or undergo litigation requiring payouts to shareholders. However, you can choose to have the shares removed from your account as non-marketable if you no longer wish to retain ownership of the shares. TD Ameritrade will remove non-marketable securities from your account free of charge.
If you wish to remove a stock as a non-marketable security, we ask that you call us at 1-888-871-9007 and speak with one of our licensed brokers. This transaction will generate a trade confirmation and will be irreversible. I hope this is helpful.
We strive to provide the best in-class service to our clients by making it easy for you. Your opinion and satisfaction are essential. If we have not yet met your expectations, or if you see anything we could have done better, please let us know.
Thank you for choosing TD Ameritrade, and we hope you have a great day!
Best regards,
James Westbury
Client Services
TD Ameritrade
1-800-669-3900
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So I just got off the phone with a rep. I asked how long it would take since I needed to send the loss documentation to my accountant for tax filing. He said 1 to 2 business days, HOWEVER, he also said TDA is technically the party "buying my shares" so the loss will be in my 2021 return! This will be true even for the one that delisted in 2019.
So I guess this means if you really think there is a chance for TMPS, you can wait until December 2021 to pull the trigger. I'm NOT a tax pro, all of this came from my TDA rep so maybe you can ask Fidelity "how" the shares would be removed from your account?
Good luck
