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TRADING DIRECT, YORK SECURITIES, INC. 160 Broadway, East Bldg Floor 7, New York, NY 10038 Telephone 2127660241 / 8009258566, Fax 2122024655 REQUEST FOR DISPOSITION OF A SECURITY WITH INSIGNIFICANT
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How to fill out worthless security removal

01
To fill out a worthless security removal form, follow these steps:
02
Obtain the worthless security removal form from the relevant authority or organization.
03
Provide your personal information such as name, address, and contact details.
04
Identify and describe the worthless security in detail, including its type and any distinguishing features.
05
Explain the reasons why the security is considered worthless, providing supporting evidence if required.
06
Attach any relevant documents, such as previous certificates or statements related to the worthless security.
07
Sign and date the form to indicate your agreement with the information provided.
08
Submit the completed form to the designated authority or organization either in person or by mail.
09
Follow up with the authority or organization to ensure the removal process is progressing as expected.
10
Keep a copy of the filled-out form and any supporting documents for your records.

Who needs worthless security removal?

01
Individuals or organizations who possess a security that is considered worthless would need to fill out a worthless security removal form.
02
This could include individuals who have outdated or expired securities, securities that have been deemed invalid or fraudulent, or securities for companies that no longer exist.
03
By filling out this form, they can initiate the process of officially removing the worthless security from their records or portfolios.
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Worthless security removal is the process of claiming a loss on an investment that has become completely worthless for tax purposes, allowing taxpayers to offset other capital gains.
Individuals, businesses, and organizations that have investments that have become completely worthless and want to claim a deduction for tax purposes are required to file worthless security removal.
To fill out worthless security removal, taxpayers typically need to complete IRS Form 8949, providing details about the securities, the date they became worthless, and the amount of loss to be claimed.
The purpose of worthless security removal is to allow taxpayers to formally claim a tax deduction for securities that no longer hold value, thus potentially reducing their taxable income.
Information that must be reported includes the name of the security, the date it became worthless, the loss amount, and any relevant transaction details.
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