Retirement tax questions

To enter worthless stock as investment sales in TurboTax Premier desktop:

1. Under FEDERAL TAXES tab,  Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings.
2. Did you have investment income in 2025? YES
3. On the Let's finish pulling in your investment income- click on the Add Investment button
4. On the Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import
5. OK, let's start with one investment type- choose Other then Continue
6. Tell us more about this sale  Worthless Stock Continue
7. Now, enter one sale for WORTHLESS STOCK (Proceeds=0 Date sold or disposed= 12/31/2025)
8. Let us know if any of these situations apply to this sale  This was a worthless security  Continue

To enter worthless stock as investment sales in TurboTax Premium online:

1. From the Federal section, under Wages & Income,
2. Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA) under Investments and Savings
3. On the Let’s finish pulling in your investment income page, click on Add investments.
4. On the Save time and connect your financial accounts click on Enter a different way
5. On the How do you want to add your docs? click on Type it in myself
6. On the OK, let's start with one investment type, click on Other and Continue
7. On the Tell us more about this sale, type Worthless Stock
8. On the Now, enter one sale for Worthless Stock, complete the information using 12/31/2025 asDate sold or disposed and zero for Proceeds.  Enter your original investment for Cost or other basis

You may deduct the cost or other basis of stock in the year that it becomes completely worthless.  See Losses (Homes, Stocks, Other Property).