Hello, I had invested in a startup company for see money, that company is closed and I lost my investment. where do enter that loss in TurboTax?

[AmeliesUncle]

It depends on what why you "invested" in it.  Did you buy stock?  Buy a Partnership Interest?  Loan money?  Purchase equipment for your own business?  Something else?

[mail4ksh]

I have a similar question - I invested in return for a Safe Note. The company folded - now how do I account for the investment I made as a loss in 2021 taxes?

[DaveF1006]

Yes, here is how to report your worthless non-business bad debt.

1. Go to federal>wages and income
2. investment income >Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
3. First screen answer Yes. Second screen, indicate this is other.
4. Tell us more about this sale.  Worthless note
5. What type of investment, indicate other.
6. Record the other information listed about the note. For the proceeds, enter the amount of payments you received since the note's inception. If you received no payments, then enter 0.
7. Next enter the price you paid for the note.
8. After everything is entered, you should have a capital loss.  Keep in mind, if you have no other capital gain income,  your loss amount you can claim for this year is $3000. Your carryover losses in excess of the $3k are carried over indefinitely until used up.

@mail4ksh