I bought 1000 shares of a banking stock @ about $1.30 per share. It is now selling for $0.003 and the 1000 shares is worth $3.00. I cannot sell it because there is not a market. How do I take the loss on my taxes..

I don't think you can claim a loss for stock you still own and hold, I was never allowed to.

And since it hasn't been sold, you still own it. Unless its reitred due to a bankruptcy or sold... its only a paper loss. And it takes a real loss to claim on taxes.


Who can say next year it won't recover and you sell it for a gain... after you just claimed a loss? That's why they don't let you claim paper losses... only real losses.