turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Stocks I owned for a company were, according to my broker, "delete liquidated" on 12/2022 following a Chapter 11. They didn't send me tax forms. Are they suppose to?

While I don't have any tax forms, I do see investment docs. They show "unrealized gains/losses" around the same 12/2022 date. Is "deleted liquidated" have no impact on "unrealized losses"?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
MaryK4
Expert Alumni

Stocks I owned for a company were, according to my broker, "delete liquidated" on 12/2022 following a Chapter 11. They didn't send me tax forms. Are they suppose to?

You enter this as worthless stock. Below is DianeW777  answer from a previous post:

 

You can report it in the year they are deemed to be completely worthless. This usually happens when a company stops doing business or files bankruptcy.  You should be prepared with your proof and retain it in your tax file.

 

The sales price would be zero and the cost basis would be what you actually paid for the stock and December 31st as the date of sale

 

 To enter worthless stock as investment sales: (You should use the description as 'Worthless'.)

  1. Open (continue) your return in TurboTax.
  2. In the search box, search for investment sales then click the "Jump to" link in the search results.
  3. Answer Yes to the question Did you sell any investments?
    • If you land on the Here's the investment sales we have so far screen, click Add More Sales.
  4. Answer No to the 1099-B question.
  5. On the next screen, select the type of sale you had (stock, second home, collectible, land etc.) and click Continue.
  6. Continue following the onscreen instructions to enter the sale. 

Helpful Information:

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

Stocks I owned for a company were, according to my broker, "delete liquidated" on 12/2022 following a Chapter 11. They didn't send me tax forms. Are they suppose to?

didn't your broker include this in their 1099 reporting to you? 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question