what to do with dead stock with -95+% loss?

Discussion in 'Trading' started by unknown00, Aug 31, 2012.

  1. unknown00


    currently own stock of basically dead companies (don't ask what company). i have accepted it as a loss and don't care about it. i don't want it in my portfolio anymore and just don't know what to do with stock worth $0. if i "sell" it i know i can use it as a tax deduction, any advantages of keeping it around?
  2. Taxes likely to be higher in future years if you want to hold it ... if not call broker near end of year (if you have gain), and ask them to buy it with no transaction fee and they should buy it for nothing from you.