Perhaps. The link you provide declares the Security and Exchange Commission (SEC) is in pursuit against UNITED CANNABIS CORPORATION (CNABQ) for violations and lack of submitting the requested filings. Unfortunately it does not say they are out of business as of yet. And Fidelity agrees the stock is not yet worthless.
On the other hand you find evidence the business is permanently closed. The following will provide guidance and then you can decide if you feel your proof is evidence enough to file the loss this year or if you want to wait until 2023.
You can report it in the year they are deemed to be completely worthless. This usually happens when a company stops doing business or files bankruptcy. You should be prepared with your proof and retain it in your tax file.
The sales price would be zero and the cost basis would be what you actually paid for the stock and December 31st as the date of sale
To enter worthless stock as investment sales: (You should use the description as 'Worthless'.)
- Open (continue) your return in TurboTax.
- In the search box, search for investment sales then click the "Jump to" link in the search results.
- Answer Yes to the question Did you sell any investments?
- If you land on the Here's the investment sales we have so far screen, click Add More Sales.
- Answer No to the 1099-B question.
- On the next screen, select the type of sale you had (stock, second home, collectible, land etc.) and click Continue.
- Continue following the onscreen instructions to enter the sale.
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