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vmulay
New Member

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

posted
‎June 6, 2019 4:58 AM
last updated ‎June 06, 2019 4:58 AM
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MichaelL1
Level 15

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

View solution in original post

‎June 6, 2019 4:58 AM
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1 Reply
MichaelL1
Level 15

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

‎June 6, 2019 4:58 AM
0
164
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