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Given the uncertainty around these Russian securities, U.S. taxpayers may want to consider formally abandoning these securities in 2024 if they do not believe they are likely to once again access these securities. The abandonment would allow a capital loss deduction in 2024. In addition, because a worthless security deduction can only be taken in the year the security becomes worthless, the abandonment would protect against the IRS arguing the security became worthless in 2024 (perhaps when the conversion period expired) if the deduction is taken in a future year
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