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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: FTJoe who wrote (4155)	12/31/1997 11:21:00 PM
From: Dick Jaffe	Read Replies (1) \| Respond to of 11708

Actually,FTJoe, when you are holding a stock at a loss and the stock's value is so low that the cost of selling exceeds that value, all you need to do to legally claim the loss on your return is show it on your Schedule D as worthless on 12/31. You back this up with a letter from your broker stating that the cost of sale exceeds the stock's value. This will be accepted by the IRS in lieu of a confirmation showing the sale. Unfortunately, I have had a number of those over the years and have never had a problem reporting them in this fashion. Dick