It depends. If you are referring to the following you can enter a sale if this is what you received in the letter for 2024. See the steps below.
- A wind-down trust, like the GWG Wind Down Trust, is a legal entity established to manage and liquidate the assets of a company or entity, typically in a bankruptcy or restructuring scenario, with the goal of distributing the proceeds to creditors and other stakeholders.
To enter your sale in TurboTax, follow these steps. If you continue to get distributions, in the future your cost basis could be zero if it is all used up in 2024.
- Open or continue your return.
- Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
- Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
- Answer Yes to the question Did you sell any of these investments in 2024?
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
- Click this link for more information. Where do I enter Investment Sales?
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