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Technology Stocks : Allen-Vanguard Rescue Board -- Ignore unavailable to you. Want to Upgrade?

To: beaverfever who wrote (502)	10/25/2009 6:23:22 PM
From: kidl	Read Replies (1) \| Respond to of 724

>>>Anyone considering writing off the "loss" for tax purposes may want to seek professional counsel - it could be possible that until we receive "official notice" from Allen-Vanguard of the value of our stock as 0.00, we may not qualify for a CRA loss ?<<< I don't think that such a statement from VRS would be enough. Here are the basic rules outlined in such a way even I can understand them: blog.taxresource.ca From this site: "Cease Trading or De-Listed? Just as bankruptcy does not imply that a company is no operating nor does a cease trade order or delisting from the stock exchange imply a company is not operating. You will only be able to claim a loss if the company has ceased operations and there is no reason the believe the company will continue operations in the future." I still have shares of one Canadian public company (Etac Sales which bought Eatons) in one of my accounts which was delisted years ago but somehow never formally declared bankruptcy. TDW can't remove these shares and thus I can't claim the capital loss according to TDW and my accountant. It looks like these shares will sit in limbo ad infinatum.