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Invested in business few years ago and now they dissolved it with loss no documents send to me. Can I still report the loss?
Its an LLC
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Invested in business few years ago and now they dissolved it with loss no documents send to me. Can I still report the loss?
Yes, but try to get all the documentation you can, so you can show the investment is worthless.
Also, document attempts made to get your investment back.
This loss then is reported as an Investment sale.
The sales date is when it became worthless, the sale price is $0.
To enter your Investments sold
Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button
- Mark as New
- Bookmark
- Subscribe
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Invested in business few years ago and now they dissolved it with loss no documents send to me. Can I still report the loss?
Yes, but try to get all the documentation you can, so you can show the investment is worthless.
Also, document attempts made to get your investment back.
This loss then is reported as an Investment sale.
The sales date is when it became worthless, the sale price is $0.
To enter your Investments sold
Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button
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