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Post# of 2630
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Sharktnk

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Sharktnk

Re: schmitty81 post# 2629

Friday, 04/26/2013 8:05:15 PM

Friday, April 26, 2013 8:05:15 PM

Post# of 2630
Looks like you're stuck paying the $30

https://www.tradeking.com/faq/worthlesssecurity

Etrade doesn't charge to do it, that's unfortunate (Edit: Looks like it's now $5.00).

Essentially you 'sell' them for .01 for the entire lot. You should however be able to write off the processing fee along with the loss under 'worthless securites' on your tax form.

http://taxation.lawyers.com/income-tax/Tax-Deduction-for-Worthless-Securities.html

Otherwise you can just leave them in your account to rot

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