I have a private investment loss of a company that has gone out of business but I cannot get into contact with to get a 1099-B. How do I report this loss?

[ThomasM125]

You don't need the Form 1099-B to report the investment loss in TurboTax.

Enter the transaction in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc...  Choose Other as the type of investment you want to enter. You'll come to a screen where you can enter in your sales proceeds ($0 in this case) and cost basis. On the screen that says Let us know if any of these situations apply to this account choose This was a worthless security.

[davidrx]

There is no "Other" option for recording the sale of shares of a private company. Everything assumes you have a 1099-B and then TurboTax won't got further if you dont identify the company that is supposed to have sent you the 1099-B.

So, how do you record the sale of stock in a private company?

[RogerD1]

Since you don't have a 1099-B for the sale of this stock, you will need to gather the records surrounding the purchase and sale of the private company stock so that you can report it in TurboTax.

If you select the "Other" category, you can enter the name of the broker for the transaction.  If you didn't have one, you could put your name in there if you brokered it yourself - that information doesn't get reported on the tax return.

You'll need the following information to enter on your tax return:

• The type of investment you sold - employee stock, non-employee stock, etc.
• How you received the investment - purchase, inheritance, etc.
• Description of the investment sold
• The date it was acquired - if it was acquired over multiple dates, you can choose "something other than a date" and choose "Various (or more than one date)" in the dropdown
• The date the investment was sold
• The amount you received in proceeds
• The cost or other basis - this would be what was paid for the stock.  If you acquired more stock by reinvesting dividends you received to buy more stock, these amounts would increase the basis of your stock.