Loss on Employee Stock Options

[Anonymous]

I bought my stock options as I left a company I worked for several years ago.  These options were recently part of a reverse split and my options bought back.  They were bought back at almost a 100% loss.  Is there a a way to right that off?

[TomYoung · Accepted solution]

Since they were "bought back" you'd enter the sale using the "Stocks, Mutual Funds, Bonds, Other" interview.  You'd enter your proceeds from the sale, date of sale, your basis and your date of acquisition and recognize a long term capital loss.

Tom Young