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Rob
Lv 5
Rob asked in Business & FinanceInvesting · 4 years ago

Stock market stock, Bankruptcy and return to stock market of a company.?

i bought stock in peabody energy. anyways they went into bankruptcy and pretty much stock when to $0.00. Well, same company comes out of chap 11 gets a new stock ticket name and I and the other investors get 0 shares. What are the options. Just declare it a loss on my taxes? So this company can move on and just dump all the previous stock holders? I am new and this pisses me off

2 Answers

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  • Judy
    Lv 7
    4 years ago

    Yes, your only option is to declare it on your income tax for the year it became worthless.

  • Wayne Z
    Lv 7
    4 years ago

    Yes. All you have now is a tax deduction.

    After a bankruptcy, stockholders normally do not get anything.

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