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Topic: A stupid question regarding RXPC/ declaring a loss

bilgert
Member

Member Rated:

posted

Ok- I bought about $150 worth of RXPC shortly before the goofy CEO decided to suddenly "shut down" trading for a year. In the end, he ended up issuing/mailing trapped shareholders worthless certificates (and subsequently followed up with a letter begging potential investors to contact him- his sliminess is another story unto itself).

Now here's my question. What if I were to do something like sell it on ebay for a nickel or burn the certificates? Could I then declare a loss?

This is a semi-serious question, because I need to start declaring some losses because I'm doing fairly well otherwise. I need to find ways to ease the ol' tax burden.

Posts: 949 | From: Little Rock, AR | Registered: Dec 2005 | IP: Logged |

T e x
Member

posted

ask your broker about having them declare it worthless...Maybe they'll charge you 10 bucks to buy it for a dollar.

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005 | IP: Logged |

bilgert
Member

Member Rated:

posted

Gotcha- I'll do that.

I really want to burn the certs and post the youtube video at ihub- that would just make the CEO livid. He posts under the name 'firesupport', but has been banned for a bit...

Sometimes I enjoy acting like a 5 year old.

Posts: 949 | From: Little Rock, AR | Registered: Dec 2005 | IP: Logged |

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