Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Cents who wrote (1502)	11/18/1998 4:35:00 PM
From: WallStBum	Respond to of 5810

My main reason for dumping this stock is to clean out my portfolio and erase any reminder of my experience with bulletin board stocks. It's true what they say about bulletin board stocks....they all sound too good to be true and are very risky! I can't let that go. Do your homework and you can come out pretty good....but I agree that small-caps have suffered massive losses. I just read the Russell 2000 is down 37% from its May highs. This has affected the micros that trade BB often much worse. My day will come though (gg), and my little micros will rise again. dax

To: Cents who wrote (1502)	11/18/1998 4:36:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

The stock is pennies now. Can I just hold onto it with the possibility of it being worth more someday? Yes you may. If it ever goes 100% "worthless" you may not deduct the loss in any subsequent year after the year it becomes worthless. I anticipate being in a higher tax bracket in a few years due to double income instead of one. Won't this loss have more of an effect to reduce gross income at that time? It very well may. My main reason for dumping this stock is to clean out my portfolio and erase any reminder of my experience with bulletin board stocks. Who knows, that may be worth more than any future tax deduction you will get.