Cytodyn Inc (CYDY)

[I_luv_cydy]

I have a stock that’s not worth the paper the certificate is printed on. Here is how I plan to take the loss even though I can’t sell it :

You report capital losses on Form 8949, Form 1040 and Schedule D. Prepare documentation that proves the stock is worthless and establishes the approximate date on which it became worthless. You don't have to submit this documentation with your tax return, but you will need it if the IRS audits you.

So you CAN write off a stock that is worthless. Especially if there is no market to sell it.

DEBUNKED !!!