Fortress Financial Group fka FFGO

[FedUpToHere]

Actually, you may not have a choice in the matter if the instructions for 1099-B are followed by your broker--

Instructions for Recipient
Brokers and barter exchanges must report proceeds from transactions to you and the IRS on Form 1099-B. Reporting is also required when your broker knows or has reason to know that a corporation in which you own stock has had a reportable change in control or capital structure. You may be required to recognize gain from the receipt of cash, stock, or other property that was exchanged for the corporation’s stock. If your broker reported this type of transaction to you, the corporation is identified in box 9.

Sorry. Our investment in FFGO will not automatically be written off as worthless and the "claimed" tax loss sent to the IRS on a 1099. That is simply not true. ONLY IF shareholders decide to request their broker to write their position of FFGO down, does the broker submit a 1099 to the IRS on our behalf, reporting and recording our decision to write the asset off as worthless.

I would say a stock being revoked and now worthless would constitute a change in capital structure.

Edited for typos.