Can I Write Off GM Stock Loss For 2009 Yet?

  • Thread starter Thread starter BiG_RiB
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BiG_RiB

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Hi,

I am wondering since the government sent me a letter saying that my stock is basically worthless if I can write the loss off on my taxes for 2009 yet or do I need to wait for it to go down to .00 cents. I know that people are still trading it and I see the value is at about .68 cents a share. Also, I have misplaced the certificates and apparently the transfer agent is unable to issue me new ones. I tried to contact the Motors Liquidation Corp, but have not received a response yet.

Thank in advance,

BiG_RiB
 
If the government has declared the stock worthless, the IRS would be hard pressed to dispute that assessment. If they tried, they could expect a significant number of court challenges.

Note: this answer is not based on actual research.
 
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