Gary,
I know with Waterhouse, you can tell them that you want to dispose of a stock as worthless securities. There is one dollar involved, I believe, one way or the other. They take the securities, and you have an official selling price (for tax basis). Lombard (whom I don't have anymore cause they don't handle bulletin board stocks on-line, at least not when I quit), would "adjust" the selling price with the commision to make it come out to zero (once again, I think thats how they explained it). Same result. You don't have to wait for a bankrupt company to "officially" go bankrupt this way, and can take your loss on the date you surrender (sell) the shares.
Of course, if the stock eventually goes up (perhaps a super long-shot, at best), you would no longer own it!
I'll just keep mine around in case I run out of monopoly money (although that may be worth more than the stock).
Maybe we can float an extra raft along-side us, and you can go into the river-clothes-washing-cart business, strictly as a sideline, during the coming winter. Perhaps we can come up with a good barter price for those cards, say a bottle of beam and case of bud? |
