Investors & landlords

Yes, you can benefit from the loss, however, you will have to go back and reconstruct the cost basis of the stock.

Go back to see how long you held this stock and then do searches on the internet for historical costs.

IRS is pretty good if you do some good research and use sound logic in determining the cost basis.

This research you will do will stay in your tax file and will be provided if requested. 

To enter your Investments sold

Click on Federal Taxes

Click on Wages and Income

Click on I'll choose what I work on

Scroll down to Investments

On Stocks, Bonds, Other, click the start or update button

View solution in original post