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Microcap & Penny Stocks : GIFS -- Ignore unavailable to you. Want to Upgrade?

To: campe who wrote (7238)	2/18/1998 1:05:00 PM
From: Stephen Stacks	Read Replies (1) \| Respond to of 8012

Tax Treatment of GIFS Loss I spoke with a IRS rep today. (You call them and leave a message and they call you back within a couple of days. 800-829-1040) I asked him if worthless stock is still limited to 3,000 limitation. The answer - Yes. However, when I gave him a little history on the company (receivorship, fraud, CEO on the lamb, etc...) he said that the loss could possibly be considered a fruad/theft loss, which could be taken in the current year. This might be worth some investigation to those who did not sell their shares.