MaryK4
Expert Alumni

Investors & landlords

You will enter in TurboTax as Worthless Stock. 

 

 To enter worthless stock go to investment sales:

Under Federal Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings.

  1. Did you have investment income in 2024? YES
  2. Let's import your tax info  Enter a different way
  3. OK, let's start with one investment type Other Continue
  4. Tell us more about this sale  Worthless Stock Continue
  5. Now, enter one sale for WORTHLESS STOCK (Proceeds=0 Date sold or disposed= 12/31/2024)
  6. Let us know if any of these situations apply to this sale  This was a worthless security  Continue

Unfortunately, your losses may be limited to $3000 for the year (if they are long term capital losses), but you will be able to carryforward any excess loss and deduct in future years.

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