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Get your taxes done using TurboTax
Taking a loss on worthless stock is entered into TurboTax or onto schedule D exactly the same as any stock sale.
You will enter as a sale date the date that you became certain that the stock was worthless. A lot of times a company starts to go bankrupt but there is still activity there so there is still hope for recovery. There has to be no hope for recovery for the stock to be rendered worthless. So the date that you received a letter from an attorney declaring the stock worthless is a good date, etc.
Then you will enter "0" as a sale price. If you received any portion of the value for the stock at all it needs to be entered here instead of zero.
Then you will enter what you paid for the stock as your stock basis. In your instance the basis is the $11 FMV that you were taxed on in 2019. So you have a loss of the cost of all of those shares at $11 each.
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