Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: Jonathan S. Feingold who wrote (58185)	1/14/1999 12:30:00 PM
From: Mel Boreham	of 58324

Jonathan, I am certainly not a tax expert, but it is my understanding that unless you tried to sell the stock and were unable to due to there not being any buyers, no market in the stock, then you may not be able to take the loss. You will have to check with your broker on this and he should be able to tell you if there were sales in SYQT through the end of the year, Dec. 31, 1998. This is a pretty complex issue that you would want to contact your broker and a tax expert. A loss in not incurred until you sell the stock or at a time when there is no longer a market in the securities. That is why I mentioned to you that you might have to wait until 1999 to take the loss after the bankruptcy court has completed its work and the sale of its assets have taken place. You might want to go over to the Motley Fool web site and put the question up on the tax section on their message boards. I have gotten some good advice from TMFtaxes and some of their other posters. Good Luck. Drop me a note when you get a definitive answer to this problem... Mel

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