One of my stock has become chapter 11 in the year 2001. I haven't reported this in my tax until now.
I called my broker in Nov 2004 and they said you could report this stock as loss any time and there is no need for an action from their side. But my broker still kept showing this stock in my account with 0 value and couple of weeks ago(Feb 2nd week), I called them and asked to remove this from the statement. Now my broker also sent me a letter stating that they removed the stock from the account on Feb 2nd week.
My question is can I report this stock as loss in the year 2004 tax return or I should only report in 2005 tax return?
Thanks for your time.
I called my broker in Nov 2004 and they said you could report this stock as loss any time and there is no need for an action from their side. But my broker still kept showing this stock in my account with 0 value and couple of weeks ago(Feb 2nd week), I called them and asked to remove this from the statement. Now my broker also sent me a letter stating that they removed the stock from the account on Feb 2nd week.
My question is can I report this stock as loss in the year 2004 tax return or I should only report in 2005 tax return?
Thanks for your time.