Per the iRS
If you own securities and they become totally worthless, you have a capital loss but not a deduction for bad debt. Worthless securities also include securities that you abandon. To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it.
Treat worthless securities as though they were capital assets sold or exchanged on the last day of the tax year.
You must determine the holding period to determine if the capital loss is short term (one year or less) or long term (more than one year).
Report worthless securities on Part I or Part II of Form 8949, and indicate as a worthless security deduction by writing Worthless in the applicable column of Form 8949.
when the IRS says worthless they mean not even worth 1/2 cent. some securities that are nearly worthless trade off the exchanges so you can't get a current quote. talk to your broker to see if the security is totally worthless.
also see IRS pUB 550 see pages 36 and 55 (this is the 2019 version . the 2020 version hasn't been released)
https://www.irs.gov/pub/irs-pdf/p550.pdf
