Our question is , in order to capture our loss on this stock
do we have to sell it now, or can we write it off as
worhless.  If so how do we do this in Bivio accounting?

You can't sell your Worldcom stock, it's worthless. When preparing your tax return, the IRS says you should enter a transaction on 12/31/04 shoeing a sale for $0. You can do the same thing in bivio. If you want to enter the "sale" as of the date MCI emerged from bankruptcy, the IRS won't question it.

 

Ira Smilovitz