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P
pradeepgopireddy
May 29, 2024
Question

how to get losses in 1099 on OTC stock AuViQ , i can sell it.

  • May 29, 2024
  • 1 reply
  • 0 views

AuViQ delisted today. and i can sell it but can’t buy it.

what exactly i need to do to show losses in 1099.

what happens if i don’t sell then?

i have another CRXTQ delisted but not able to sell yet. robinhood told waiting for stock liquidation and not shown losses in 2023.

when and how can i show CRXTQ losses in 1099 now 

1 reply

M
Mike9241
May 29, 2024

the IRS has a policy that you cannot deduct loses on a worthless security until it is totally worthless. Delisting does not mean this. 

 

delisted securities can still have value and trade in any of several OTC markets.  

 

see the thread

https://robbinsllp.com/my-stock-was-delisted/#:~:text=Once%20a%20stock%20is%20delisted%2C%20stockholders,delisted%20stock%20often%20experiences%20significant%20or&text=Once%20a%20stock%20is,often%20experiences%20significant%20or&text=stock%20is%20delisted%2C%20stockholders,delisted%20stock%20often%20experiences 

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