You report a worthless stock due to bankruptcy the same way you would if you had a Form 1099-B. To do so in TurboTax Online:
- Type "1099B" in to Search and hit enter
- Click on "Jump to 1099b"
- Answer Yes to "Did you have investment income in 2024?" (If you've already entered investments, click on "Add investments")
- Click through the program until you get to "Let's import your tax info?", and click on "Enter a different way".
- Click to highlight the box with "Stocks, Bonds, Mutual Funds", then click on Continue.
- Enter something for "Bank or Brokerage" and click on Continue.
- Answer No to the Employee stock question.
- Continue through screens until you come to the page with Now, enter one sale on your Foreign 1099‑B
- Enter the information for your bankrupt stock.
- For the date sold, enter the date of bankruptcy, or the date you learned of bankruptcy if later.
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