you would not receive a k-1 since it is a C-corp nor a 1099 since the corp itself is responsible for paying taxes on any income it had. you did not say whether this was your corp (privately held) or traded on an exchange.
the IRS position is that it has to be totally worthless to take a loss. if it is, your loss would be a capital loss equal to your tax basis in it. reportable on schedule d
