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New Member

Investment disolution certificate

we made an investment in 2009. We received a disolution certificate with a note of the loss of our investment.  Where do I enter that loss? And how?
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New Member

Investment disolution certificate

If this was worthless stock or other investment:

  • You can deduct worthless stock or any other investment, only in the tax year it becomes completely worthless.
  • This normally happens when the corporation files for bankruptcy, stops doing business, and has no assets.
  • Financial difficulties won't make a company's stock worthless unless there is no hope that the company will pull through.

To enter the worthless stock or other investment:

Enter a worthless stock like any sale but with a sales price of zero and the word "worthless" in its description.

Enter the correct cost or basis, date acquired, and December 31 as the date sold.

1.    Open your return.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)

2.    Type worthless stock in the search bar and click search. 

3.    Click on Jump to worthless stock.

4.    If you land on Here's the investment sales we have so far screen, either edit or Add More Sales.

5.    On the Did you get a 1099-B or a brokerage statement for these sales, answer No, if you did not get a form.

6.    On the Choose the type of investment you sold screen, click on Stocks or other appropriate category.

7.     If you choose worthless stock, continue with on onscreen interview until you get to the Do Any Special Situations Apply to This Sale? screen. click on Worthless securities.

8.    If you choose Everything else, continue with on onscreen interview until complete.

View solution in original post

1 Reply
New Member

Investment disolution certificate

If this was worthless stock or other investment:

  • You can deduct worthless stock or any other investment, only in the tax year it becomes completely worthless.
  • This normally happens when the corporation files for bankruptcy, stops doing business, and has no assets.
  • Financial difficulties won't make a company's stock worthless unless there is no hope that the company will pull through.

To enter the worthless stock or other investment:

Enter a worthless stock like any sale but with a sales price of zero and the word "worthless" in its description.

Enter the correct cost or basis, date acquired, and December 31 as the date sold.

1.    Open your return.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)

2.    Type worthless stock in the search bar and click search. 

3.    Click on Jump to worthless stock.

4.    If you land on Here's the investment sales we have so far screen, either edit or Add More Sales.

5.    On the Did you get a 1099-B or a brokerage statement for these sales, answer No, if you did not get a form.

6.    On the Choose the type of investment you sold screen, click on Stocks or other appropriate category.

7.     If you choose worthless stock, continue with on onscreen interview until you get to the Do Any Special Situations Apply to This Sale? screen. click on Worthless securities.

8.    If you choose Everything else, continue with on onscreen interview until complete.

View solution in original post

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