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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121160  
Subject: Re: Devalued Stock Date: 11/7/2002 4:08 PM
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What you're looking at is a potentially worthless stock. There are some issues when trying to determine if a stock is worthless.

De-listing does not in itself make a stock worthless. Have you checked the "pink sheets" to see if it sells there? Not all on-line brokers can quote these. What is the stock? Folks here are pretty good at finding info on potential worthless candidates.

If you can determine that the stock is indeed worthless, you can claim it as a capital loss in the year it became worthless. Far easier is to sell it for whatever you can get. That is much cleaner than a worthless stock write off. There is some info in the FAQ on worthless stock.

While the whole thing is a learning experience, you can at least salvage some deduction for your learning.

--Peter
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