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urche

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urche

Re: raam08 post# 6380

Thursday, 12/15/2011 5:50:58 PM

Thursday, December 15, 2011 5:50:58 PM

Post# of 6451
Claiming a complete loss

I am going to save my dollar and not sell clsc paper to my broker. It looks clear that 2011 is the official year in which clsc shares became "worthless" which is all I need to claim tax losses over the next few years.


Does anyone else have experience with complete losses and documentation needed for IRS? I was planning to just claim the loss like you suggest. Would the fact that the company is bankrupt and no shares have traded for 6 months be enough documentation, or is there some reason the broker needs to officially remove (buy back) my shares to make it copesthetic with the IRS?
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