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Get your taxes done using TurboTax

If you received a Form 1099-B, follow steps 1 and 2 below.  

Enter a worthless stock like any stock sale but with a sales price of zero and the word "worthless" in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.

If you did not receive a Form 1099-B, here are the steps to enter your investment sale because it is worthless:

1.      With your return open, search for worthless stocks in the TurboTax search box and then click the Jump to worthless stocks link in the search results.

2.      Answer Yes to the question Did you sell any investments in 2015?

o    If you land on the Here's the investment sales we have so far screen, click Add More Sales.

3.      Answer No to the 1099-B question.

4.      On the next screen, select the type of sale you had (stock, second home, collectible, land etc.) and click Continue.

5.      Continue following the onscreen instructions to enter the sale date of the disposition/bankruptcy/worthless stock, etc.  See the screenshot below.

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