2/17 Document a bankrupt company & their stock Money Deluxe 2005.

#3 02-20-2005, 04:51 PM

How about a "Remove Shares" transaction?

--
Michael Gordon
MVP

"RobG_money" <RobGmoney[at]discussions.microsoft.com> wrote in message
news:BFB4CEAA-1B07-453A-8A12-64BFB497F3B7[at]microsoft.com...
- quote -

> Does anyone know how to document in the account register the fact that a
> company is no longer traded and has zero value? I am trying to balance
> the
> statement from my broker with the account register. The only method I
> have
> found is to show it as a sale, which is obviously incorrect.
> Also is there any way to have Money track the stock symbol for bankrupt
> company? I owned shares in Acterna, which my broker tracks as ACTRQ &
> Yahoo
> tracks as ACTN.PK?

#2 02-17-2005, 04:43 PM

Sorry about that...

Anyways, would it not be easier to simply show that the price of the stock
is now $0 ? I mean, even though the stock is worthless, you still have it. I
suppose you could ask your broker to sell it - but then, who's going to buy
worthless stock?

"Kent M Smith" wrote:

- quote -

> "Cal Learner-- MVP" wrote:

#1 02-17-2005, 04:39 PM

"Cal Learner-- MVP" wrote:

- quote -

> In microsoft.public.money, RobG_money wrote:
> > Does anyone know how to document in the account register the fact that a
> > company is no longer traded and has zero value? I am trying to balance the
> > statement from my broker with the account register. The only method I have
> > found is to show it as a sale, which is obviously incorrect.
> It is not obvious.
> Is the stock still in your account? Ask your broker to sell it for
> you limiting his commission to the proceeds. Most will go along with
> that, but not all.
> Alternatively ask him for a letter saying the stock became worthless
> this year or last. It is important in a taxable account to put that
> on your schedule D as a sell for the year it became worthless. In
> that case, enter the word WORTHLESS on your schedule D where the $0
> would have gone. If you are using a tax program, let the program
> enter $0 and pen WORTHLESS into the box with the 0.
> In either case, enter a sell with $0 net proceeds. If you have the
> less common case of a broker declining to limit the commission, or
> the more common case of failing to ask the broker to limit the
> commission so that the sale yields $0 or $0.01 to you, then Money
> does not accept that transaction that way. You will have to work
> around that in Money.
> > > Also is there any way to have Money track the stock symbol for bankrupt
> > company?
> > I owned shares in Acterna, which my broker tracks as ACTRQ & Yahoo
> > tracks as ACTN.PK?
> It looks like the symbol ACTN was Action Performance until 1992.
> Unfortunately that is not your stock.
> http://www.action-performance.com/investor/NYSE.asp
> Money recognizes ACTRQ but shows no activity.
> Yahoo shows no trades for ACTN.PK in 2005.

02-17-2005, 04:13 PM

In microsoft.public.money, RobG_money wrote:

- quote -

> Does anyone know how to document in the account register the fact that a
> company is no longer traded and has zero value? I am trying to balance the
> statement from my broker with the account register. The only method I have
> found is to show it as a sale, which is obviously incorrect.

It is not obvious.

Is the stock still in your account? Ask your broker to sell it for
you limiting his commission to the proceeds. Most will go along with
that, but not all.

Alternatively ask him for a letter saying the stock became worthless
this year or last. It is important in a taxable account to put that
on your schedule D as a sell for the year it became worthless. In
that case, enter the word WORTHLESS on your schedule D where the $0
would have gone. If you are using a tax program, let the program
enter $0 and pen WORTHLESS into the box with the 0.

In either case, enter a sell with $0 net proceeds. If you have the
less common case of a broker declining to limit the commission, or
the more common case of failing to ask the broker to limit the
commission so that the sale yields $0 or $0.01 to you, then Money
does not accept that transaction that way. You will have to work
around that in Money.

- quote -

> Also is there any way to have Money track the stock symbol for bankrupt
> company?
> I owned shares in Acterna, which my broker tracks as ACTRQ & Yahoo
> tracks as ACTN.PK?

It looks like the symbol ACTN was Action Performance until 1992.
Unfortunately that is not your stock.
http://www.action-performance.com/investor/NYSE.asp

Money recognizes ACTRQ but shows no activity.

Yahoo shows no trades for ACTN.PK in 2005.

#-1 02-17-2005, 03:39 PM

Does anyone know how to document in the account register the fact that a
company is no longer traded and has zero value? I am trying to balance the
statement from my broker with the account register. The only method I have
found is to show it as a sale, which is obviously incorrect.

Also is there any way to have Money track the stock symbol for bankrupt
company? I owned shares in Acterna, which my broker tracks as ACTRQ & Yahoo
tracks as ACTN.PK?

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