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To: Toni1001 who wrote (7665)	3/18/1999 11:16:00 PM
From: Bill Murray	Read Replies (1) \| Respond to of 7685

J.K.LASSER'S Your Income Tax 1999 Expanded Edition Page 118 Section 5.32 on Worthless Securities says that such loss is deductible only in the year the securities become completely worthless; to support the deduction you must show the stock did not become worthless in a year prior to 1998; that it became totally worthless in 1998; you must be able to present facts fixing the time of loss, for example, the company went bankrupt, stopped doing business, and is insolvent. He added that if you are not sure the condition is hopeless, it is advisable to claim the deduction for 1998 to protect your claim, quoting a court and saying that if it turns out that complete worthlessness did not occur until a later year, claim the deduction for the proper year and file an amended return for 1998 to eliminate the deduction.