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Technology Stocks : WCOM
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To: VFD who wrote (11291)7/13/2002 8:52:58 PM
From: Oeconomicus  Read Replies (1) of 11568
 
...if one owns shares of wcom and does not sell before the company declares BK, are you not allowed to deduct the loss?

Of course you can deduct it and you don't need to sell it at all if it in fact becomes worthless. I'd suggest you go to the IRS web site and search on "worthless securities", or go to the library and take a look in a tax guide such as JK Lasser.
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