fkittle[at]tampabay.rr.com (Frank Kittle) writes:

- quote -

Yes.

Phil Marti
Topeka, KS

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fkittle[at]tampabay.rr.com says...

- quote -

The IRS matches the proceeds reported on Form 1099-B to your
Schedule D. If the transactions rounds to zero, why should
it be on the 1099-B? You may declare any legitimate
transactions on your Schedule D even if the proceeds aren't
on a 1099-B.

Now, let's get to the real problem. Do you really think that
a good company wants it stock to trade for 10 cents? Yes, I
realize that if the price goes up 1 cent you've made 10%,
however, the stock only has to drop 10 cents for you to lose
all of your investment.

Gary

--
You can probably X figure out X which letters to X delete to
derive my email address X.

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Frank Kittle wrote:

- quote -

Of course.

--
Alan
http://taxtopics.net

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A stock I bought on Etrade in August of 2001 I sold in
August 2003 for a total of less than on cent (.001) On my
1099 from Etrade there is no sale shown. Etrade says when a
security is sold and does not generate proceeds (known as a
net zero sale) this sale is not reported on the 1099. Can I
show the loss on Schedule D without it showing on the 1099?
I have the monthly statements showing the transactions.

A summary of my misadventure is:

On (8/21/01 I bought) Wasatch Pharm Inc (wsch) 20,000 at
..0940 (1880 + 19.95 = 1899.95)

There was a reverse split of 50 to 1 on 9/10/01 my 20,000
shares became 400 shares

There was a reorganization of the company and a reverse
split again in December of 2002

Mandatory Reorg Fee 20.00
reverse split(12/02/02) (400)reverse split 12/05/02 1
new symbol wshp

sold the one share of wshp at .001 on 8/25/03

Thanks,
Frank

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