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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (10839)10/25/1998 7:35:00 PM
From: George C. Grasser  Read Replies (1) | Respond to of 11684
 
I know this has been asked awhile back, but does anyone know if we have to sell MTEI in 1998 to be able to write it off as a short term loss for income tax purposes.

One CPA told me a letter from the company acknowledging it's worthlessness is good enough. But MTEI still trades, so I assume it's not considered worthless.

Was also told, one needs at least $3,000 worth of losses to itemize it against any gains for the year.

Thanks in advance to any response.

George



To: jhild who wrote (10839)10/25/1998 9:25:00 PM
From: Janice Shell  Read Replies (1) | Respond to of 11684
 
My understanding is that what's currently at the MSNBC site was what was actually run on the evening news tonight. Last I heard, Matt Butcher's story--which will be longer and more detailed--should be out sometime this week.


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