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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Richard Nehrboss who wrote (2289)8/31/1999 1:40:00 AM
From: john rieck  Read Replies (1) of 5810
 
Question for the thread:

In May of 1998 I bought shares in an OTCBB company. Trading in the company was halted in August of 1998.
The stock has not traded since. Say I originally invested $10,000 in this stock. Say I also have realized short term capital gains of $30,000 for 1999. My question is, will I be able to combine these gains/losses for 1999 so that my net gain on schedule D is $20,000? I am assuming I can declare the BB stock worthless (or at worst sell it for a nominal amount to someone so I can realize it as a loss)
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