Well can I at least get a tax deduction for worthless securities?


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tax reduction business bankruptcy

Well can I at least get a tax deduction for worthless securities?

Perhaps. Contact a tax attorney or accountant or the Internal Revenue Service (IRS) for information about how to report worthless securities as a loss on your income return. If you don’t know whether your stock has value, and you can’t find a stock or bond price in the newspaper, ask your broker or the company for information.

(Reviewed 11.10.08)

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