You should issue cancellation of debt forms for the 2009 tax year (late now, but you have to write off bad debt in the year it becomes worthless as a short term capital loss... do this on the partnership return and let it flow through to your individual 1040 returns).
The same goes for the capital stock as a worthless security (treated as sold on the last day of the tax year it becomes totally worthless... long term loss for you).
Talk to a local professional about proving the timing of your deductions (ie., when did the company quit answering the phone, did the company file BK, etc?... you are looking for documentation to meet your substantiation requirements)
See Form 1099-C - Cancellation of debt (issued by lenders who forgive debts and call the debt worthless for tax purposes):
Pay attention to the Section 1244 loss rules!!, here, to see if they will apply on the worthless stock:
§ 1244. Losses on small business stock
How Current is This?
(a) General rule
In the case of an individual, a loss on section 1244 stock issued to such individual or to a partnership which would (but for this section) be treated as a loss from the sale or exchange of a capital asset shall, to the extent provided in this section, be treated as an ordinary loss.
(c) Section 1244 stock defined
(1) In general For purposes of this section, the term "section 1244 stock" means stock in a domestic corporation if-
(A) at the time such stock is issued, such corporation was a small business corporation,
(B) such stock was issued by such corporation for money or other property (other than stock and securities), and
(C) such corporation, during the period of its 5 most recent taxable years ending before the date the loss on such stock was sustained, derived more than 50 percent of its aggregate gross receipts from sources other than royalties, rents, dividends, interests, annuities, and sales or exchanges of stocks or securities.
§ 166. Bad debts
How Current is This?
(a) General rule
(1) Wholly worthless debts There shall be allowed as a deduction any debt which becomes worthless within the taxable year.
(2) Partially worthless debts When satisfied that a debt is recoverable only in part, the Secretary may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.
§ 165. Losses
(g) Worthless securities
(1) General rule If any security which is a capital asset becomes worthless during the taxable year, the loss resulting therefrom shall, for purposes of this subtitle, be treated as a loss from the sale or exchange, on the last day of the taxable year, of a capital asset.
One interesting aspect of your case is your ability to request a late refund as need be:
§ 6511. Limitations on credit or refund
(d) Special rules applicable to income taxes
(1) Seven-year period of limitation with respect to bad debts and worthless securities If the claim for credit or refund relates to an overpayment of tax imposed by subtitle A on account of-
(A) The deductibility by the taxpayer, under section 166 or section 832(c), of a debt as a debt which became worthless, or, under section 165(g), of a loss from worthlessness of a security, or
(B) The effect that the deductibility of a debt or loss described in subparagraph (A) has on the application to the taxpayer of a carryover,
in lieu of the 3-year period of limitation prescribed in subsection (a), the period shall be 7 years from the date prescribed by law for filing the return for the year with respect to which the claim is made...
I hope all of this was helpful. Let me know if there is something I can clarify further.
Thank you for your question.