In 2019 I sold my 24% share of a private company. It was a private sale to a current employee of the company at a great loss. How do I report it?

[HelenC12]

You deduct this as an investment loss and enter it in the investment section of TurboTax.

Non-security investment sales are entered as follows: 

1. Open (continue) your return in TurboTax.
2. In the search box, search for investment sales then click the "Jump to" link in the search results.
3. Answer Yes to the question Did you sell any investments?
   • If you land on the Here's the investment sales we have so far screen, click Add More Sales.
4. Answer No to the 1099-B question.
5. On the next screen, select the type of sale you had (second home, collectible, land, other, etc.) and click Continue.
6. Continue following the onscreen instructions to enter the sale.

Note: You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.