@rwom1217 wrote:
Does Turbo Tax recognize this and do it for me, or do I have to create the statement on my own?
Is there a way of simply taking a one-time deduction on these without any long-term tracking or extra statements? (I know this may cost me extra $ over time.)
TurboTax will generate the statement, which will wind up in your return package.
This is, in fact, a one-time deduction so there is nothing to track. Your basis, however, for these assets would be reduced to $0 which would be a factor if you ever sell them.
