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Politics : High Tolerance Plasticity
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To: CommanderCricket who wrote (18205)12/18/2002 7:36:10 PM
From: kodiak_bull  Read Replies (1) of 23153
 
Short it to zero? Question:

I think somebody was talking about this issue before. Say you shorted 1000 shares of ENE at $80, and have watched it descend for a couple of years and now it's delisted, not trading.

You have $800,000 in the brokerage account and an obligation to return the shares if called, but nobody's calling them back. After 5 years, 10 years, is there ever a tax "disposition" event where the Feds will assess you the gain on the $800K??

TIA,

Kb

[Sorry to say, this is just an academic question, I lacked the foresight to short ENE, but had the foresight never to own it.]
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