Tuesday, August 31, 2021 6:42:18 AM
Wayne R? Wrong! You can write-off ANY shares under the "Worthless Securities Clause" Where your Broker "REMOVES" them for a fee!
Then the value THOSE SHARES +(that Fee), becomes your total Taxable Loss for THAT transaction!
I do this from time to time and the results are exactly as stated!
However, millions of such taxable claims go UNCLAIMED every tax/year for decades on end, simply because people (you) by the +100's of +1000's are innocently unaware of this, which the IRS/state/federal don't mind (nor will remind you of..) because, for them, it's all free monies profited on such public market/trading illiteracy!
Then the value THOSE SHARES +(that Fee), becomes your total Taxable Loss for THAT transaction!
I do this from time to time and the results are exactly as stated!
However, millions of such taxable claims go UNCLAIMED every tax/year for decades on end, simply because people (you) by the +100's of +1000's are innocently unaware of this, which the IRS/state/federal don't mind (nor will remind you of..) because, for them, it's all free monies profited on such public market/trading illiteracy!
In understanding the Risks!, I don’t mind losing in stocks that died TRYING, but I DO mind losing in stocks that died LYING!
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