The bankruptcy filing occurred in 2024.
You have been informed by company or bankruptcy officials that no Final K-1 will be issued.
You purchased a security (an interest in the LLC) for $60,000; I am not clear as to whether you took any losses against that basis and reduced it. I am going to assume you did not recognize any losses.
Thus, in 2024 you are holding worthless security with a basis of $60,000.
A security that becomes wholly worthless during the tax year is treated as though sold on the last day of the year.
There is a checkbox in the Schedule D dialogues for "This was a worthless security" that appears after you enter the security as Stock (non employee); Long term noncovered; date acquired, date sold (12/31/2024), zero Proceeds, and $60,000 Basis.
