OWC Pharmaceutical Research Corp (OWCP)

[ChuckBits]

This is from a Schwab "fair fund" settlement & not OWCP but I'm sure it applies:

This distribution may be taxable depending on the Account Type you held, which was used for the distribution calculation. If the distribution is related to a Qualified account (such as an IRA), the distribution will not be taxable if it is deposited in the same Qualified account or another Qualified account you hold. If the distribution is related to a non-qualified account (such as a taxable brokerage account), this distribution may be taxed and you may receive a Form 1099.

Regarding claiming the "full loss", if you haven't already sold & taken the loss, you need to sell 'em. Since that isn't really possible, you need to call your broker and they will "buy" them which removes 'em from your account. I have previously done this with TDA more than once (unfortunately). They give you a few cents for all of your shares. Like if you have 10,000 shares that you paid $5,000 for, they will literally pay you .03 cents for the lot!