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https://boards.fool.com/ch-11-and-tax-loss-15884452.aspx
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| Subject: ch. 11 and tax loss | Date: 10/8/2001 11:03 AM | |
| Author: Lokicious | Number: 54458 of 131788 | |
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I suppose there's something about this in FAQs, but I'm lazy: If a company declares ch. 11, at what point in the process can a shareholder claim the stock is worthless and take a tax loss? (This company is now in ch. 11, but final disposition concerning possible buy-out, unlikely refinancing, or conversion to ch. 7 will probably take until after Jan. 1.) I know one piece of advice is to sell, but that costs a brokerage fee. Also, some investors in this company own it as a Private Placement and can't sell. (Long, depressing story.) What happens if the ch. 11 process later results in some kind of return, after you've taken a tax loss? Thanks. |
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