oofta_animation
Returning Member

Taxed on ISO via AMT and the company went bankrupt

I exercised an ISO grant in 2020 and 2021. I was subject to the AMT because the stocks had a bargain price different from the full market value.

I couldn't legally sell the stock until several months after the IPO, and in that time the company went bankrupt and the stock is worthless. Good times! Where in TurboTax should I enter this information? Can I get any money back considering I paid taxes on income that was never earned? And lastly, is there anything special I can claim as a loss beyond the $3,000/year investment write-off, considering the stock hasn't just tanked but vanished?

Thank you so much for any and all advice.