If you know how much you paid for the stock that became worthless, you may report it on your return. Here's how to enter it in TurboTax,
- In
your Federal return,
choose Wages & Income
- Scroll
down to Investment Income (you
might have to select See more income to view this topic) and Show more
-
Start or Revisit Stocks, Mutual Funds, Bonds, Other
-
Add a sale and answer No, you did not get a brokerage
statement. You will see the
screen Choose the type of investment you sold. Select
the option for Stocks.
- Continue through the interview, entering your data, until you reach the screen Do Any Special Situations Apply to This Sale?
- Choose the radio button for "Worthless securities" and Continue to complete the interview.
