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I received for 2017 a 1099B-proceeds from broker & barter exchange transactions covering 1995 nonsecured note partial payout of principal, how handle?

I acquired in early year 2000 ABFS nonsecured note, they closed, attorneys recovered some of the money issuing a 1099b for 2017 funds received, it equals pennies on the dollars invested, how handle this partial repayment of principal in TurboTax Premier?

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MarilynG
Expert Alumni

I received for 2017 a 1099B-proceeds from broker & barter exchange transactions covering 1995 nonsecured note partial payout of principal, how handle?

If your cost basis is shown on your 1099-B, you will receive a capital loss.  If not, but you know what it is, you can enter that amount.

Here's more info on claiming a capital loss:

https://ttlc.intuit.com/replies/5209280

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MarilynG
Expert Alumni

I received for 2017 a 1099B-proceeds from broker & barter exchange transactions covering 1995 nonsecured note partial payout of principal, how handle?

If your cost basis is shown on your 1099-B, you will receive a capital loss.  If not, but you know what it is, you can enter that amount.

Here's more info on claiming a capital loss:

https://ttlc.intuit.com/replies/5209280

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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