We used to own Pixar, which eventually was bought out by Disney. Shortly after Pixar shares were converted to Disney, Disney spun off a small company called Citadel Broadcasting, which started out being a penny stock (maybe 31 cents) and was only worth in total about $50 in our account, but then went to zero in short order.I sold off our Disney shares this year and had my broker "sell" the worthless stock too, on the same day.I would just allocate all the basis to Disney.PhilRule Your Retirement Home Fool
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