All well and good, except VCSY hasn't filed bankruptcy. It's just delisted and the stock is still outstanding. Shareholders still have ownership in the company. Even if you write it off, and prove to the IRS that it's not trading, you still own the stock if you can't sell it. Then what if it starts trading again? I asked this question earlier. I would assume you would still own it, and if you ever sold it your cost basis would be zero since you wrote it off earlier.
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