turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jecusna59
New Member

I had an ESOP that decreased in value from a high of 42,278 to a final payout of 465 during the period of 1996 to last week. Is there any way to report this loss?

I was a former employee, then a consultant to a defense contractor in Arlington VA from 1986 to last year when the company was sold to another business concern.  I am using TurboTax home and business to submit my return, as I have for several years.  Is there any way I can claim this loss in value?  Thank you.  Jim

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

I had an ESOP that decreased in value from a high of 42,278 to a final payout of 465 during the period of 1996 to last week. Is there any way to report this loss?

If your stock was bought out, you will need to report that on your tax return for the year of the transaction.  You loss will be your cost basis less the proceeds you received for it.  If you received the proceeds last week, you would report it on your 2019 tax return.  Any capital loss is used first to offset any capital gains in the current year. If your capital gain is less than your loss, you would first claim up to $3,000 of additional capital loss which will reduce your current year income, then carry any remaining loss into the future.


View solution in original post

2 Replies
DDollar
Expert Alumni

I had an ESOP that decreased in value from a high of 42,278 to a final payout of 465 during the period of 1996 to last week. Is there any way to report this loss?

If your stock was bought out, you will need to report that on your tax return for the year of the transaction.  You loss will be your cost basis less the proceeds you received for it.  If you received the proceeds last week, you would report it on your 2019 tax return.  Any capital loss is used first to offset any capital gains in the current year. If your capital gain is less than your loss, you would first claim up to $3,000 of additional capital loss which will reduce your current year income, then carry any remaining loss into the future.


jecusna59
New Member

I had an ESOP that decreased in value from a high of 42,278 to a final payout of 465 during the period of 1996 to last week. Is there any way to report this loss?

I don’t know where to do this in my TurboTax return.  How do I start?  The company was sold in 2018.  Thank you.  
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies