Remote Dynamics Inc (RMTD)

[Ed the Trader]

"You don’t have to sell to claim a total loss. If the stock is delisted you can simply claim a total loss on your taxes, at least in the US you can."

The IRS may allow one to claim the deduction for a total loss without doing the declaration in your brokerage account, but it strengthens your tax deduction claim if your broker agrees that the stock is worthless.

It also allows you to clear the stock from your portfolio to keep the clutter from confusing you later.

I am presuming that all brokers allow the worthless stock declaration but eTrade definitely does. Just log into your brokerage account and search for something like "worthless stock" and you should find a link to an interface which displays all stocks in your portfolio which your broker will allow you to declare as worthless. If you select one or more, and move forward with the declaration by clicking the appropriate buttons, the stock will be removed from your portfolio.

This is true even if the stock still has a publicly traded ticker symbol so it is not just for stocks only displayed by CUSIP number.

I am guessing that stock share price has to be below a certain amount but even some triple zero subpennies above $0.0001 qualify for this option if one wanted to execute on that option.