@TaxNoob18 You need to report the liquidating distribution amount and then report your stock basis equal to the amount of the distribution; no gain or loss in the current tax year.
You don't have any tax loss at this time because this is not a closed transaction. There could be two more liquidating distributions and until these are finalized, you do not have any loss.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
