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Deductions & credits
You should try these entries in TurboTax to enter your loss on section 1044 stock:
- Income and expenses
- Stocks Mutual Funds, Bonds, Other
- Indicate that you didn't get a form 1099-B and enter "One sale at a time"
- Enter description, date worthless, date acquired, proceeds as $0, cost
- When you see "Select any less common adjust. that apply" choose 3rd. option
- Choose "QSBS eligible for ordinary loss deduction" when you see "What Kind of Small Business Stock"
- Check the applicable features on the screen that says "Tell Us About the Stock"
Based on your answers in that section, your stock loss will be treated as ordinary and appear on form 4797, Part II.
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March 15, 2021
4:02 PM