We invested 15k$ with first Global, which went bankrupt. A liquidator distributed to us 10k$ so we lost 15k$ on 1099 form. what do we do to not pay taxes.

[funhead]

sorry typo we invested 25k$

[fanfare]

if you got a 1099-MISC you can deduct this as a bad business debt.

Under stocks, say you sold investments but did not get a 1099-B.
it's a nonbusiness Bad Debt (click that one)
Then CONTINUE
you will be asked for the specific information required for IRS to allow your loss.

In description put "1099-MISC liquidation after bankruptcy"

cost 25k proceeds 10k loss 15K.

You should have no problem answering the questions since you have the supporting documents.