I rode Linn all the way down into bankruptcy to the tune of $12k. I was under the impression I would be able to write off the loss against any capital gains BUT Fidelity is telling me the shares have not been officially declared worthless. While Linn no longer trades, I have been granted escrow shares that 'could' be worth something down the road.
I am reading different points of view on how to deal with this: One option is to take the loss and gather as much documentation to show the stock is worthless even though it's not officially worthless.
Other option is to hold tight even though it may take many years to fully resolve.
Anybody gone thru this before?
I am reading different points of view on how to deal with this: One option is to take the loss and gather as much documentation to show the stock is worthless even though it's not officially worthless.
Other option is to hold tight even though it may take many years to fully resolve.
Anybody gone thru this before?