Fortress Financial Group fka FFGO

[OldBen]

Very True SevenTenEleven. I would like to say that many of us should be able to get tax benefits without writing down the shares. I have fidelity and scottrade. Both of those accounts show zero (no value). I believe that you have different brokerage houses that still show a positive value.

I believe that when I receive my 2011 tax forms from my brokerage houses concerning FFGO, they will show a total loss. I should be able to claim the total loss up to $3,000 on my capital gains. Capital gains or losses in no way affect the shares. They are still valid.

There is no need to write down shares. There are many FFGO shareholders that hold less than $3,000 in invested funds. They can use capital gains losses as a way to help their tax burdens.

For shareholders with accounts larger than $3,000, there is nothing that you can do. Hopefully, 2012 will result in a dividend or a legal settlement.

I should add that you have nothing to lose. The government is surely going to want any future FFGO capital gains through dividends or legal settlements. So, might as well claim the capital losses for 2011.