Worthless stock

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  • appelman
    Senior Member
    • Jan 2010
    • 1195

    #1

    Worthless stock

    I have a client who purchased stock in a private company some ten years ago. Shortly thereafter, the company went bankrupt. My client never claimed the loss. Is he out of luck, or can he report a worthless stock disposition in the current year?
    Evan Appelman, EA
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    He needs to report it for the year it became worthless.

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