What my accountant stated when I asked if the IRS would force investors to write down a revoked stock, such as FFGO, he simply answer the question I asked.
Question: "Will the IRS force me to write down my FFGO stock now that it is revoked?"
Answer: "NO! Whomever told you that was misinformed and misguided Your broker will only report a tax gain or a tax loss after you have bought or sold. In regards to FFGO, only way your broker would be required to report a total loss for your FFGO investment would be if you ASKED them to remove FFGO shares from your account and have them written down as worthless."
He also stated: "Without the off-setting tens of thousands of dollars worth of short- and/or long-term gains to write FFGO off against for 2011, it would't be a smart tax saving move."
With the proposed and SEC Filed 3449% ROI, I have decided to wait it out.
Tic Toc
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