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Microcap & Penny Stocks : MTCI - Will it live out the year ???
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To: WalleyB who wrote (1312)10/27/1999 2:01:00 PM
From: Martin Olsen  Read Replies (1) of 1336
 
If you already declared the loss as total last year, you can hold on
to your shares or "sell" them. In the unlikely event that your shares
ever become worth anything, and you sell them, then the proceeds will
be fully taxable as capital gains (ie, your cost basis is zero).

But pigs will fly before that happens.

My recommendation is to keep the shares in your account as a constant
reminder of how risky these BB stocks are. Every quarterly statement I
get from my broker has 14,550 shares of MTCI with $0.00 value. It is
sobering and effective!
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