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Loss not reported on 1099-B from Brokerage Firm

How do you record a capital loss from a stock investment that became worthless in 2020 due to the finalizing of a bankruptcy proceeding.   Since this was not a sale, the loss is not reported on the 1099-B I received from my Brokerage firm.  

 

I am concerned if I enter the loss into schedule D the totals will not agree back to the 1099-B.

 

Thank you for your help!

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1 Best answer

Accepted Solutions
ThomasM125
Expert Alumni

Loss not reported on 1099-B from Brokerage Firm

You can report the loss like any other investment sale, accept you indicate that you don't have a form 1099-B. The sale amount will be $0, and the cost will be what you paid for it. It is not uncommon to have investment sales without a form 1099-B listed on a tax return, so it shouldn't attract too much attention from the IRS.  

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1 Reply
ThomasM125
Expert Alumni

Loss not reported on 1099-B from Brokerage Firm

You can report the loss like any other investment sale, accept you indicate that you don't have a form 1099-B. The sale amount will be $0, and the cost will be what you paid for it. It is not uncommon to have investment sales without a form 1099-B listed on a tax return, so it shouldn't attract too much attention from the IRS.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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