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I need someone who is knowledgeable about tax laws relating to investment and stock transactions of a private California corporation.
I have a situation that I need help on to confirm if there will be any tax consequences to me this year? Its a small company (California corp) that I invested money in for which I got preferred stock and was promised back my purchase price of the shares as a refund once they raised their next round of funding. Also as an inducement to invest, I got additional bonus shares in the founder's other company (at $0) + the founder put her own personally owned shares into escrow as collateral incase she defaults and cannot payback in the promised timeframe. Well she has defaulted and my question now is whether any of these events are taxable in 2012 even though I haven't actually received any actual money back and the shares are not worth anything since I haven't sold anything i.e.
1) The bonus shares I was given both for an inducement for investing and as ...
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