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Re: Brad S post# 81986

Monday, 07/28/2008 1:51:10 PM

Monday, July 28, 2008 1:51:10 PM

Post# of 82841
Well the IRS defines worthless in its code, and makes you do alot to prove it worthless.

I basically sold my shares for 1-cent total to Scottrade itself making it a legal trade.

"Instead of doing all the research involved with proving to the IRS that a security is worthless, consider selling the security to your broker. That way, you actually have a confirmed sale to establish value. Also, if the security is worth a few dollars, you can lock in the capital loss deduction immediately without waiting for the security to be completely worthless. It is imperative that the transfer of the security be a valid sale."




9 CKYS buys from October 13, 2006 to December 13, 2006. Still bagholding!

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