Gambled a little on a penny stock, and lost. Now it's worth 0001, and so can't be sold. Big deal, lost 600, I have gains far beyond that.
However, unless I sell it, I can't count that loss against my gains for tax purposes. Is there anything I can do?
>pic unrelated
If you're truly unable to sell it, you can take a worthless stock deduction. Its the same way people declare losses when their stock is cancelled, for example in a bankruptcy case.
hmm. i'm no expert but don't you have to do end of year mark to market for taxes?
>>1382665
Thank you, I'll look that up, sounds like what I'll end up doing since it's flatlined for the past 2 months.
