When can you lift a property loss on worthless stock?
Aug.17, 2011 in
Small Business Questions
Individuals own stock in a holding company whose sole asset is an insurance company which is going into receivership today. The stock is worthless today, as here is no market it and the shareholders won’t see a dime, but it won’t truly be disolved for a year or two. Can we take the loss this year? Or do we enjoy to wait for the formal disolution to be completed?
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August 17th, 2011 at 7:49 am
You can take the loss within the year that the shares are declared worthless. The receiver should tolerate you know when the official determination is made.
August 17th, 2011 at 7:49 am
Hi,If you are sure that it can never be revived, you can help yourself to the loss immediately. You can look in http://stocks.advisorinternet.info… for some useful tips and info related to your enquiry. Good luck!