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posted Oct 10, 2023 9:20:41 PM

L-bond I bought went bankrupt in 2022

I bought GWG L-bond in 2021 (via an agent) and I was only paid a few months interests before the GWG declared bankruptcy in early 2022. My question is how I can claim the loss in my 2022 Income Tax Return (I use TurboTax Premier). Note, I did not receive any 1099-B or any other type of report from GWG or an agent.

Please help, thanks.

Howard

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1 Replies
Level 15
Oct 10, 2023 10:00:15 PM

you have a capital loss based on tour tax basis. long-term or short term depending on holding period.