Reporting Stock Loss

Forum|Forum|2 years ago
February 26, 2024
1 reply
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Hello,

We've purchased stocks from a company and last year they claimed bankruptcy and closed the company. How do I report the loss of all the shares we have.? I did not get a 1099 just a summary that has all the information regarding the loss.

ThomasM125

You will enter the sales proceeds as $0 and the cost of your shares as an investment sale in TurboTax and the difference will be listed as a capital loss on your tax return.

Enter the sale in the Investment Income section, then Stocks, cryptocurrency, Mutual funds, Bonds, Other. Indicate that you didn't receive a form 1099-B when asked. Enter it as a sale of stock.

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