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Thread: Private stock

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    Private stock

    Jurisdiction / State: Virginia

    Hi,
    In year 2000 I bought private stock in Hush Communications(you can google them). I paid $25,000 for 12,007 shares of Series C preferred stock. I received a certificate stating that fact and also stating the the stock had a .001 value at that time. The company is still operating but still private and I receive an operating report twice a year. I have called them to try and sell back the stock and they know of no one wanting to buy the stock from me.
    I would like to abandon the stock to them. I would sign the certificate over to them and ask for no consideration. Could I then get a 2012 federal tax loss on my $25,000 investment made in 2001 due to my abandonment of stock? . Thanks, Jano18

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    Is this question that I asked that difficult? Thanks


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