Investment in a startup that dissolved

[Confused37]

I invested in a startup that dissolved in 2024.  I have the certificate of dissolution, but there is no 1099.  Where can I enter this loss?  Any investment I try to add in Turbotax asks for a 1099 and I can't get past that.

[MaryK4 · Accepted solution]

You will enter as capital loss.  

Under Investments and Savings, go to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

1. Did you have investment income in 2024? YES
2. Let's import your tax info  Enter a different way
3. OK, let's start with one investment type Other
4. On the screen that says: Tell us more about this sale:

• Your Cost or other basis is your investment amont
• Your Proceeds is zero (0)
   

[Confused37]

This got me really close and I figured it out from there.  Thank you so much for your help!

For benefit of others in the same situation:  I'm using TurboTax Premier, so options didn't look exactly as described.  I clicked on "update" next to "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other".   At the bottom of that screen, I clicked on "add investments", then "skip import", then "other".

I may have answered a question wrong in the initial step-by-step interview.  Maybe that's why I don't see the prompts exactly as described.

[imrizwan]

It sounds like the "Skip Import" and "Other" path was the key to bypassing the 1099-B requirement in the Premier version.

Since you’ve successfully entered the cost basis and the $0 proceeds, the software should now correctly calculate your capital loss.

Before you file, would you like me to help you verify if you should check the "Section 1244" box to potentially increase your deduction limit?