Replies to post #372995 on Mr Cooper Group Inc (COOP)

[REALtime64]

Yes you are right I remember that no wonder no one is selling off this stuff might get paid in a about 5 years and it don't matter to most of us we all still have hundreds and thousands of free shares from 3 years ago trading is a long wait but least it was free for most here holding to the end when ever that is

[gold-nugget]

Worthless Securities

In addition to authorizing a deduction for nondepreciable assets used in a business, Sec. 165(g) allows a deduction for the loss sustained by a taxpayer resulting from the worthlessness of a security.(41) For purposes of this section, a security is defined as a share of stock, a right to acquire a share of stock, or a bond, note or other evidence of indebtedness.(42) The loss from a security is treated as resulting from a sale or exchange on the last day of the tax year. In most cases this will result in a long-term capital loss.

The loss will be treated as ordinary if it is the security of an affiliated corporation.(43) To be affiliated the corporation must own stock possessing at least 80% of the voting power and at least 80% of each class of nonvoting stock. In addition, the subsidiary must obtain over 90% of its gross receipts from active sources.