I was in an ESPP. The company went bankrupt and the shares were extinguished in 2017. How do I use Turbo to enter the data?
In order to claim the loss on your tax return, you'll need to enter it as a "sale of stock for $0" in the "Stocks, Mutual Funds, Bonds, Other" interview.
(This interview is not available in the TurboTax Free Edition, so you'd need to upgrade to the Premier version to report the loss).
When you start the interview you'll be asked if you received a 1099-B, or not.
Depending on your answer you'll be led to slightly different interviews, but both interviews ask for the exact same information:
In order to claim the loss on your tax return, you'll need to enter it as a "sale of stock for $0" in the "Stocks, Mutual Funds, Bonds, Other" interview.
(This interview is not available in the TurboTax Free Edition, so you'd need to upgrade to the Premier version to report the loss).
When you start the interview you'll be asked if you received a 1099-B, or not.
Depending on your answer you'll be led to slightly different interviews, but both interviews ask for the exact same information: