Younger America Inc. (fka YNGR)

[Long-vestor]

yeah, no, you are right at least to some degree. I got the capital gains and person income cornfused into the mixture.. and, when ever I dumped this lotto ticket it was to enjoy the lose during that year. the only trades I recall of any consideration,were MM's passing it around for .00009. and it was delisted into the gray sheets.

I don't recall if the actions caused it to be notable as a complete loss including at the same time the issue was raised and captured by the SEC either. and still retain the stock, but,, I also didn't realize it could be deductible while you still own it..

Obviously something to keep in mind during the dumpty dump season.

i would NEVER give a broker my shares, and if the stock came back to life after writing them off you haVE THEM to sell and make it 100% gain and a zero basis. if there is no bid you can write them off imo. you explain that the shares are worthless because they have no recognizable bid or zero bid and therefore you are writing them off. as long as you don't lie you are safe. if the bid comes back and you sell you show the no basis b/c you already wrote them off .completely legal... there is no reason to give your shares to a broker. ridiculous !!

Although I never liked the idea of just dumping crap over to a broker, I've dumped other junk with .0001 or no bids through the years, just to decrease my capital gains.

but if I play the lotto again,, that's surely something to keep in mind! a little research to verify because, it's sounds pretty trick writing off a no bid stock and still retain ownership, 'just incase it comes back to life in the year 2099'
Doesn't sound like something the feds like,, but certainly worth looking into.