One of my stocks has been inactive for a few weeks and is displaying a value of $0 in my portfolio. Immediately after I purchased it, the stock price fell below the purchase price. Hoping to reduce the loss, I carelessly ignored the stock and wanted to wait until the stock price got a bit better. But now, it has a $0 value. After conducting some online research, I discovered that the company had declared bankruptcy.
What are the implications for the stocks I own in this situation? Can I expect my broker to issue a 1099 form indicating a loss? Do I need to take any specific actions regarding these stocks?
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