What is a worthless stock?
Stock, stock rights, and bonds (other than those held for sale by a securities dealer) that became completely worthless during the tax year are worthless stock and should be treated as though they were sold on the last day of the tax year.
Worthless securities also include securities that you abandon after March 12, 2008. To abandon a security, you must permanently surrender and relinquish all rights to the security and receive no consideration in exchange for it.
To enter worthless stocks or securities in the software, enter $0 as your Sales Proceeds and 12/31 as your Date Sold or Disposed.
Worthless securities also include securities that you abandon after March 12, 2008. To abandon a security, you must permanently surrender and relinquish all rights to the security and receive no consideration in exchange for it.
To enter worthless stocks or securities in the software, enter $0 as your Sales Proceeds and 12/31 as your Date Sold or Disposed.
