schirallicpa Posted March 5, 2008 Report Share Posted March 5, 2008 I have an older couple that did not report Enron worthless stock in 02 or 03 when it went worthless. Can it be taken now? Don't tell me I have to go back and amend and carryforward and amend and carryforward and amend....... Any thoughts on this today? Quote Link to comment Share on other sites More sharing options...
jainen Posted March 5, 2008 Report Share Posted March 5, 2008 >>Don't tell me I have to go back and amend and carryforward and amend and carryforward and amend.......<< There is no reason to tell you something you already know. Quote Link to comment Share on other sites More sharing options...
rickart Posted March 5, 2008 Report Share Posted March 5, 2008 I have an older couple that did not report Enron worthless stock in 02 or 03 when it went worthless. Can it be taken now? Don't tell me I have to go back and amend and carryforward and amend and carryforward and amend....... Any thoughts on this today? Depending on what the judge in the case does, what the final order looks like, and some other particulars, press reports (eg. http://www.tradingmarkets.com/.site/news/S...0News/1156587/) suggest the shareholders may be getting $6.79/share. I know that would be a pretty big loss for many, but IRS might say the stock isn't worthless, yet, or hasn't been right along. Another example of the grief that keeps on giving. "Sit tight" might be the best strategy. Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted March 5, 2008 Author Report Share Posted March 5, 2008 And then how many thousands can go back and amend for the stock they wrote off. Sure - makes sense to me. Quote Link to comment Share on other sites More sharing options...
terry Posted April 2, 2008 Report Share Posted April 2, 2008 I have an older couple that did not report Enron worthless stock in 02 or 03 when it went worthless. Can it be taken now? Don't tell me I have to go back and amend and carryforward and amend and carryforward and amend....... Any thoughts on this today? I have a client who also has enron stock that he inherited in 2000. Has anyone on the board handled this in the past? Year it became worthless? Thanks in advance! Quote Link to comment Share on other sites More sharing options...
JRS Posted April 2, 2008 Report Share Posted April 2, 2008 I have had this discussion with two clients this year, plus I got burned on a bond, and we are waiting until the final decree before taking off anything that was not already dumped. The IRS already has questioned an earlier writeoff, but we weathered the storm and it was not a lot of money. Quote Link to comment Share on other sites More sharing options...
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