Investor Help (NO Ihub questions)

[cintrix]

That depends on if the stock this person is referring to is still trading or not. If it is still trading and there is a "q" affixed and this person did not sell it yet, then they can't take a loss. If they sold it or if the commons were cancelled and removed from their account then they may take a loss. The way they worded the question wasn't clear. When he/she said "if I didn't do anything," were they referring to the lawsuit or meaning they didn't sell it yet? If the stock is no longer in this person's portfolio they may take the loss:

Hi I had a stock that went bankrupt and sent me a notice to sue by June ..if I didn't do anything can I use that as tax breAk next yr?