There are at least two distinct situations that would lead to a stock being 'worthless'. 1) Enron and Kmart still trade. However net proceeds from a small position (less than 500 shares) usually do not exceed the brokerage commission on the trade, and therefore there ...
The first poster in this thread may or may not be holding a worthless stock (we don't know what company it is). Albert St. Onge's club definitely holds a worthless stock. You don't need any additional tax schedules to deal with a worthless stock beyond ...
This stock was declared worthless on 12/2/2002. See the following: http://www.nasdaqtrader.com/trader/news/2002/upcnotices/176-02.pdf The easiest way to deal with this is to enter a sale on 12/31/2002 for $0. This will create the appropriate capital loss and remove the shares from your account. Ira Smilovitz In a ...
Your broker is obligated to make a trade as long as the stock is listed on the BB or pink sheets. Lets say you own a 100 shares of a stock trading at .01. Your trade would net $1.00 less commissions. My broker has a ...
You don't. You need to sell the stock to claim the loss. Declaring bankruptcy does not, in and of itself, make a stock worthless. Many bankrupt company stocks continue to trade. It takes a total liquidation of the company with no distribution to the common ...
One of the stocks our club owned went bankrupt. We had a loss of over $800 on the stock. How do I enter this in Bivio so I can run the tax forms showing this loss? Cynthia Mathwick POGP
Line 13b is for ADDITIONS, not subtractions. Expenses are not included in a NJ partnership return. You should have entries on lines 4, 5, and/or 7. You may have entries on lines 10, 11, 15d and 15e. Note: If your club has 10 or more ...
Our club uses BIVIO and signed up for AccountKeeper as soon as it became available! We would love to see Bivio do state 1065s too! We (treasurer and me) are completing NJ-1065. We were able to plug in all of the line items until we ...
Your club *must* file Form 1065 with the Internal Revenue Service. Your club members will have to report their club membership information on Schedule E. If you had any income or expense (whether or not you sold stock) your members will have to report their ...
If you would be interested in joining a club devoted to buying covered options to generate income, or are a member of a club already doing so let me know.
Smoe of our members would like to know if we need to file any tax info with our presonal tax returns. We will be filing a k- for our club. Tehy would like to know if we need to file anywhere else. We did not ...
It can certainly be done and there are no special permits required. I would caution you from the contract law statutes that are in place regarding contract arrangements with minors. Any person under the age of 18 can walk away from a contract without any ...
Does anyone know if children under the age of 18 can be official members of an investment club? If so how does one go about doing this legally? Does anyone have samples of permission slips or whatever it takes. Thanks