I purchased Common Shares of stock from a private company in 2014. In 2015 the company dissolved and lost my investment. How do I enter this into turbotax?

[TomYoung]

If by "dissolved" you are saying that the company liquidated itself and you received some of the liquidating distributions, then those amounts are your "proceeds" from the sale of the stock and you'd enter this sale using the "Stocks, Mutual Funds, Bonds, Other" interview.  You would tell TurboTax that you didn't get a 1099-B reporting the sale and TurboTax will place the information in the proper section of Form 8949/

If you are saying that the stock is completely worthless and no proceeds were received, you still report this as a form of "sale" using the "Stocks, Mutual Funds, Bonds, Other" interview, again telling TurboTax that no Form 1099-B was received.  Enter a description like "Worthless (Company X) stock", a "proceeds" of $0 and a "sale date" of 12/31/15.

The IRS has strict rules about what constitutes a worthless stock and just being in bankruptcy probably is not sufficient

Tom Young

[manning119]

TurboTax does not provide an option to state that no 1099-B was provided. When Stocks/Bonds is selected, I am asked for a brokerage. When I hit next without selecting or typing a broker name, I am brought to a screen saying "Tell us about your 1099-B sales for this brokerage account." There is no option for no form.

Where can I find this?

Thank you.

[TomYoung]

@manning119 

I don't know how to answer your question IF YOU ARE USING THE ONLINE PRODUCT, and I'd guess that is the case.  In the desktop product it's the second screen you come to after you start the "Stocks, Mutual Funds, Bonds, Other" interview:

In the past there have always been fairly minor differences between the "online" and "desktop" interviews but I gather that this year TurboTax has changed things big time in the "Stocks, Bonds... etc." interview as I've seen questions just like yours.  Since I don't use the online product I can't give you a solid answer.