Quote:
Originally Posted by slapass
Two diferent things. If they are suspended, you have to wait. If they close then you get the full value difference of the price versus zero. I have had both happen. It can be easier to cover when they get close so that it does not hang in limbo.
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From what I have been reading- you bit the tit right on the nipple with this post. It sounds like it becomes a big hell of a nightmare if the IRS fucks with you though.
Say you buy ABC stock @ $1.00 .. 100k shares
So then let's say it gets halted or suspended and the fiscal year ends
You don't actually realize any loss at all for now and maybe for a long time
Then the IRS says guess what stupid, you can't deduct your losses because you're hopelessly fucked since we're extremely powerful thieves who rape with impunity
So there you are with a 100k loss and you can't deduct it