how to tax report lost equities

[MRG]

My career in IT was for a large transfer agency. I will tell you that at that organization any actions by a regulatory agency would have been looked into and handled as a critical issue. Like people couldn't go home till the issue was settled. YMMV, but I'd make lots of noise.

 

[ERD50]

No change. Given their stonewalling I doubt I'll recover the losses for years, if ever.

Thanks for the update, but can you explain exactly what happened? It all seems vague to me. I don't know if the problem is with the broker, or the stock, or maybe certificates at a transfer agent?

And I think you indicated you 'sensed problems' before this happened? What were those problems?

I guess what I'm getting at is, is this a general problem with the broker, worse than others (so I should be concerned), or a specific problem with your transaction (that might not affect me)?

-ERD50

 

[ERD50]

...

If I had a six-figure portfolio stolen from me I would be rattling a lot of cages to retrieve the money and would be less focused on how the loss is treated for taxes.

Exactly - this whole thing seems rather cryptic to me.

-ERD50

 

[LOL!]

I don't think this thread has exposed the real story. Perhaps trading in this issue was shut down. Perhaps it was one of those weird non-tradable REITs. Maybe something else.

If this were me and it happened to one of my holdings, the whole world would already know about it because my holdings are all big names and the other shareholders would have raised a ruckus. So I think there is something "special" about this.

 

[GrayHare]

pb4uski, yes, those are the basics. I'm afraid I am not at liberty to discuss details while authorities are looking into the matter. Given this experience, on a relative basis I think your money is safer held elsewhere.

 

[ducky911]

Something seems odd I think the answer is in the details that we do not know. Etrade still has a web sight and you can open an account today.

Here is someone that was worried in '07...

Are E-Trade Accounts Still Safe?-Kiplinger

I could not find any more recent news warnings

 

[gauss]

Does Customer Service have an answer on why you are no longer receiving regular statements in the mail? Can they tell if they are still being sent or not and if not why not? Can they confirm that the status of your account? (ie opened/closed suspended etc)

-gauss

 

[MRG]

Have you asked the brokerage how they are going to report this to you? IIRC they provide the 1099 for your accounts.