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Author: topley Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121175  
Subject: worthless security Date: 11/27/2003 5:03 PM
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OK, a few years ago I foolishly decided that since so many people were making money hand over fist in the stock market, I wanted a piece as well. On a tip from a co-worker I purchased approx $2K in a tech company that soon lost 80-90% when the bubble burst. Discouraged as I was I stopped following the market for a while planning that if I returned to investing and actually made a profit, I'd sell said security to offset any gains I might have. Flash forward to present day and my return to investing this year (new account/broker as well) and, at least some, success. Called old (online) broker to find that my account was closed and thet the previous stock was deemed "worthless" in 2002. I believe I can find paperwork for the initial purchase, but thats where my paper trail ends. Is it possible to use last years loss at this point to offset this years gain? Is there some paperwork I can request from my old broker for the worthless security?

Any help appreciated.

-jay
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