Tip - Can I Get a Tax Deduction for Worthless Stock?

If you invest in stock that loses its value completely, it is possible to claim this loss as a tax deduction, but you must do so at the correct time and only after making sure that the stock has actually lost all technical value. For example, if the company has declared Chapter 7 bankrtupcy, been liquidated and gone out of existence altogether, it will be considered worthless stock.
Tags: Bankruptcy And Taxes, Chapter 7 Bankruptcy, Worthless Stock