Do I have to report a stock deemed worthless that I didn't sell?The stock is not listed on the 1099-B from my broker.The reason I ask.......if I do claim it as a loss on schedule D, for some reason I'm then required to pay the Alternate minimum tax. The difference is paying Uncle Sam $4500(ouch!) as opposed to getting a $5880(yeah!) refund.The simple answer is that you don't have to claim the worthless stock, but if you ever decide you want to, you will still have to claim it on the return for the year it became worthless. So... you can't save it for 2003. Two other comments. First, make sure the stock is truly worthless, not just a company in bankruptcy. They're not the same.Second, I suspect you've made a mistake somewhere in your tax return. I can't imagine any circumstance where reporting a loss which can't be more than $3000 (the rest will be carried forward), could lead to a $10,000 increase in taxes.Ira
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