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Renee

04/17/23 9:56 AM

#116 RE: Joe Burmeister #115

Get a good tax company. IMO you can deduct all of the losses even though you still own worthless shares.

Best o' luck.

trader59

04/17/23 11:08 AM

#117 RE: Joe Burmeister #115

You can take a tax deduction if you can determine the basis. If the shares "hit your account," that implies you didn't buy them, so they were likely given to you as a result of some sort of corporate action (spin-off?). If that is the case, they should have been recorded as a dividend when they were awarded with a value set by the parent company.
2009 is ancient history in tax land, digging out the basis is going to be a chore, but it may be worth it if you think the basis is high enough. $1.20 per share is quite a sum for 6+M shares, over $7M... I'd like to get to a spot where I didn't know where $7M showed up in my account 14 years ago...