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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: john rieck who wrote (2215)5/21/1999 10:08:00 AM
From: Colin Cody  Read Replies (1) of 5810
 
Find out if the company is out of business. If they are out of business, have had their corporate charter revoked and have no assets, then likely the stock is worthless, and you take your loss in the year that it became worthless. You broker might issue a comfort letter verifying this.

Just because it does not trade has little to do with being worthless. Example: United Parcel Service (UPS) and M&M Mars have no market for their stocks either, but one would hardly call them worthless.
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