emerging bankruptcy issues
I own 1000 shares in GM. I bought them at $10/share (ouch!). They are in my SEP-IRA.?
I would like to know:
1) What will happen to my shares if GM declares bankruptcy?
2) If it re-emerges from bankruptcy, and issues new stocks under a new name, what will happen to my stocks under the Obama plan?
3) If the stocks go to Zero, and new shares under a new name not given to old share holders, when can I deduct the losses on my taxes as the shares are in my SEP-IRA.
Thanks
Why would you wait for the company to go bankrupt?
(y
That company cannot last. They don’t make money. It is not possible.
Sell now, and save your money.
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