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.
Posted by T e x on :
ask your broker about having them declare it worthless...Maybe they'll charge you 10 bucks to buy it for a dollar.
Posted by bilgert on :
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...