2023 Schedule D (Form 1040) (irs.gov)
2023 Form 8949 (irs.gov)
broker statement showing cost basis and current market value
NNLX - Nanologix, Inc. | Overview | OTC Markets
previously only those who met the qualifications of an expert trader- including 250 k net worth qualify to trade I never understood how such would be implemented - brokers would resist determining whether a person is financially able to meet the conditions -but such requirements are apparently no longer required despite previous articles
https://blog.otcmarkets.com/2021/03/25/unders...-market/so any holder of such securities can still trade but limited actual blind trading means such stocks qualify as illiquid
Keep in mind that if a stock becomes completely worthless, you can claim a loss equal to your basis (what you paid for it) on your tax return. The stock is treated as though it had been sold on the last day of the tax year2.
NNLX - Nanologix, Inc. | Quote | OTC Markets
dont know how would be done this this year except by amended 1040 Sch D and 8949 etc or by an extension to file but what do you do if the stock is revived after you take the loss-another amended tax return?
can you take a loss on a stock which is now illiquid - Search (bing.com)
The OTC Markets Group Expert Market is a segment within the OTC (Over-the-Counter) Markets where certain publicly traded companies are listed. Let me provide you with some details:
Background:Most of the companies quoted on OTC Markets do not meet the minimum listing requirements for trading on a national securities exchange.These companies often do not file periodic reports or audited financial statements with the SEC, making it challenging for the public to find reliable information about them.Market Tiers:Companies quoted on the OTC Markets are divided into four tiers:OTCQX: The highest tier, with more stringent disclosure requirements.OTCQB: A middle tier with additional disclosure compared to the OTC Pink.OTC Pink: The most common tier, with varying levels of disclosure.Expert Market: The lowest level of disclosure among the OTC Market tiers.Expert Market Details:Companies listed on the Expert Market provide minimal disclosure compared to other tiers.
Trading on the Expert Market is limited to unsolicited quotations (customer orders).Securities quoted on the Expert Market are typically designated as “No Information” securities.
Investors cannot publicly sell their shares on this market, and bid/ask prices and trading volume information are not readily available.
Due to these restrictions, Expert Market shares are considered illiquid.
Recent Changes:On September 28, 2021, the SEC’s amendments to Rule 15c2-11 eliminated broker-dealer quotes for securities of issuers that fail to make current information publicly available.As a result, the OTC Markets Group Expert Market became the platform for broker-dealers to publish unsolicited quotes for “No Information” securities12.Copilot
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