You'll need to sign in or create an account to connect with an expert.
If this was for an investment, you will enter as worthless stock on Form 4797. See How do I deduct worthless stock? - TurboTax.
Stocks that become wholly worthless during the tax year are treated as though they were sold on the last day of the year. Worthless stock includes abandoned stock, permanently surrendered for no consideration. You can enter the amount you received as he proceeds.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cadrstar
New Member
stephenrkg
Level 2
Boomhauser
Level 2
catherineweinfie
New Member
rmfrog1
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.