Thanks Mike,
I tried to follow the steps could follow few but then could not proceed.
What type of investment did you sell "Other"
How did you receive this investment "Something else"
Description "forfeited escrow deposit to buy rental property"
When did you receive this investment "I put the date when I sent the money"
Date Sold or disposed --> Here the TT does not give me the option of selecting "Alternate Option". This field just shows the date format.
Proceeds It does not give any option to chose from but "I can put the total amount that I sent.
Cost or basis This box/field also expecting $amount, but I can try to write as you described.
Basically, this this TT tool that I have is "Premier" and it does not give the options to pick from as you described below, instead I see the fields as mentioned above.
- For 'Date Sold', select the Alternate Option and choose "Worthless".
- You will choose "Worthless Short Term" if the money was in escrow for less than 1 year.
- You will choose "Worthless Long Term" if the money was in escrow for 1 year or more.
- The cost would be the amount of earnest money you put down on the property.
- The sales price would be $0.
