Zero Coupon Certificate of Deposit
I bought a zero Coupon Certificate of Deposit from Exchange National bank of Chicago. The bank is now closed, how can I redeem it or since the bank is closed can I claim a loss on my income tax return?
Terry Says
Wow, that is a long time ago. Not a prayer of getting any money back. And without a notice of default, I’m doubtful that you can claim it as an investment loss. It is not fraud– and those losses aren’t deductible anyway.
I think you’ll just have to chalk this off as an expensive lesson in paying attention!
