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RINO International Corporation Message Board

  • skistock7 skistock7 Feb 2, 2013 2:43 PM Flag

    Declaring tax loss when you can't sell

    Has anyone declared a tax loss on this stock? Ameritrade won't let me sell and I was wondering what the rules are with just declaring my position a loss for 2012? Any input would be greatly appreciated.

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    • check with the IRS. I don't think you can until you sell, but at least you will keep them busy.

      • 1 Reply to sonya20911
      • one of the very first stocks I ever bought, 15 years ago, went bankrupt about a year or so after I bought it, the Ticker still existed for some reason and it existed in my Account for many years.. I finally went into the brokerage ( yes, they had a local Office!!! at the time, and eventually merged with Ameritade, which merged with TD waterhouse,, etc.. ) and they said I could just Sell (ie: GIVE it to them), therefore it would not be on my account and be interpreted as a Sell, that's what I did.. and then reported on my taxes... I would like to say that I never bought a company that went bankrupt again. but of course there was Washington Mutual.. in any case just passing through on this board and thought I would pass some info (idea) along.... good luck in your trades..

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