[GNC] Bankrupt stock

dullege at gmail.com dullege at gmail.com
Wed Dec 30 01:22:11 EST 2020


Well, depending where you live,  I think you might want to "dispose" of
delisted and worthless shares so that you can capture the capital loss for
tax purposes.

In the asset account linked to this one security ... I would create a new
transaction -xxxx for the Shares (where "xxxx" is the total shares you own),
and $0.00 for the price - that's it (ie, nothing under Transfer because
there are no proceeds, nothing entered in Sell).

This results in net balance of exactly 0 shares for the asset account linked
to the security.

You should then be able to scrub the account (to capture the capital loss
for the disposed shares).

I tried this just now it and it all seems to work.

Finally, you can hide the asset account if you never want to be reminded of
that bad investment again.

-----Original Message-----
From: gnucash-user <gnucash-user-bounces+dullege=gmail.com at gnucash.org> On
Behalf Of Cam Ellison
Sent: Wednesday, 30 December 2020 4:11 PM
To: smada46 <smada46 at rtconnect.net>
Cc: gnucash-user at gnucash.org; gnucash-user
<gnucash-user-bounces+cam=ellisonet.ca at gnucash.org>
Subject: Re: [GNC] Bankrupt stock

On 2020-12-29 14:18, smada46 wrote:
> I have a stock that went bankrupt, i.e. zero value.  I have tried 
> repeatedly to remove the stock by selling the shares at $0.00 per 
> share, but no matter what combination I use, it changes the cost or 
> amount so it does not remove the shares.  For example, I put -2000 
> shares in and $0.00 in cost and zero under the sell column.  After I 
> hit enter, the shares show 1980 not zero.  How do I get rid of this 
> stock?

Why would you want to remove it? Use the Price database to set its value to
zero. The Portfolio reports will not include it unless you specifically
select it.

Regardless of their value, you still own those shares - and will always own
them. So you can't sell them - either in real life or in GnuCash.

HTH

Cam

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