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Level 2
posted Feb 15, 2025 8:31:16 AM

Investment in a startup that dissolved

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.

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1 Best answer
Expert Alumni
Feb 15, 2025 9:56:21 AM

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)
     

2 Replies
Expert Alumni
Feb 15, 2025 9:56:21 AM

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)
     

Level 2
Feb 15, 2025 12:32:27 PM

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.