Worthless Shares


B

Big Dave

I have (had) an investment in company that unfortunately has now gone
bankrupt. Whats the usual practice in money for dealing with this? Do
I just transfer out the shares?

Thanks

Dave
 
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G

Glyn Simpson, MVP

You've got a couple of options
a) Transfer out
b) remove shares
c) Sell for zero value

Personally, I'd go for (c) as then it should appear as a loss in the capital
gains report.

Oh, and (d) frame the certificate.
 
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C

Cal Learner

Lol, not sure whether to frame or ritually burn.
If you have the certificates, sell them at a flea market or on Ebay.
Then you can have a non-zero sell price.
 

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