Replies to post #302842 on Sulja Bros. Building Supplies, Ltd (SLJB)

[marketmann]

ask a pro, not some stranger on a message board.

[EarnestDD]

Some tax info posted on another board that may be of value to US SLJB shareholders. jmo

Go to your broker's website, download the "Worthless Securities Form", send it to your broker, and they will issue a loss on your monthly statement for the amount that you've invested.

There is nothing to worry about with the IRS, as it is a total loss if you can't sell. If your stock does get a bid again someday, and you sell the stock for a gain, which you would since your new cost basis is zero if you requested your broker for a "WSF" and had them execute it, then you have to report that gain as income.

I have done this before and actually had a stock begin trading again. I had to report the gain when I sold the stock, and my cost basis was zero as I already wrote the entire amount off as a loss.

[eliaman]

still no official release from the OSC re: Nov. 30th hearing, so why seek the advice of individuals who aren't here for your interest or that of the shareholders. Call the OSC and ask them what the hold up is on the outcome of the hearing.