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Re: Joe Burmeister post# 115

Monday, 04/17/2023 11:08:50 AM

Monday, April 17, 2023 11:08:50 AM

Post# of 117
You can take a tax deduction if you can determine the basis. If the shares "hit your account," that implies you didn't buy them, so they were likely given to you as a result of some sort of corporate action (spin-off?). If that is the case, they should have been recorded as a dividend when they were awarded with a value set by the parent company.
2009 is ancient history in tax land, digging out the basis is going to be a chore, but it may be worth it if you think the basis is high enough. $1.20 per share is quite a sum for 6+M shares, over $7M... I'd like to get to a spot where I didn't know where $7M showed up in my account 14 years ago...

I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.

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