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JB has most of the details. Just thought I'd fill in a few things.

There are a few different bulletin boards, including the Pink Sheets and one run by NASDAQ.

Many brokers don't fill orders for bulletin board stocks, and those that do typically have higher fees.

So your options inlcude:
- Find a brokerage that deals in BB stocks, transfer the stocks out of your current brokerage to them ($$).
- Ask your current broker if he'd be willing to buy the shares from you for a penny, so you could claim the tax loss.
- Have your current broker send you the certificates ($$) and then sell them to a non-related person for a penny. (The other person can then use them as wallpaper, toilet paper, etc)
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