Solved: Deduct Stock Loss?
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hicksfam2010
New Member

Deduct Stock Loss?

We purchased in 2014 and in 2016 the company filed bankruptsy and we lost our entire investment. Is this deductible?  Where do I report it?
1 Best answer

Accepted Solutions
DianeW
Expert Alumni

Deduct Stock Loss?

Yes, you do report it.  If the bankruptcy indicates the stock is completely worthless then you can take the loss by using the steps below.  This is reported like a stock sale without a Form 1099-B

1. Sign into your TurboTax account (online or desktop)

2. Use the search box in the upper right

3. Search for investment sales

4. Jump to investment sales (see attached image)

5. Make the selection for the type of investment 

6. Continue to enter your transaction using "Worthless" as part of the description and leave the sales price blank.

View solution in original post

1 Reply
DianeW
Expert Alumni

Deduct Stock Loss?

Yes, you do report it.  If the bankruptcy indicates the stock is completely worthless then you can take the loss by using the steps below.  This is reported like a stock sale without a Form 1099-B

1. Sign into your TurboTax account (online or desktop)

2. Use the search box in the upper right

3. Search for investment sales

4. Jump to investment sales (see attached image)

5. Make the selection for the type of investment 

6. Continue to enter your transaction using "Worthless" as part of the description and leave the sales price blank.

View solution in original post

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