Where do I declare a total investment loss

dadjohansen — Sat, 01 Jun 2019 03:09:33 GMT

On 5/12/2011 I purchased $5000.00 worth of shares in a Utah C corporation. On 12.2.2015 I received a letter that the corporation had permanently discontinued business and that there was nothing to distribute tothe shareholders. Can I declare this as a loss on my taxes and if so where?

You may be able to claim a loss on worthless stock if the...

IsabellaG — Sat, 01 Jun 2019 03:09:35 GMT

You may be able to claim a loss on worthless stock if the stock became worthless in 2016. From the date of the letter, though, it seems like the stock became worthless in 2015.

You would report this as a Sale of Stock in the Investment Income section of TurboTax.

If the IRS questions you, you should be able to establish that the shares are indeed worthless, and the year that this occurred. Please see the following for more information.

https://ttlc.intuit.com/replies/4789435

topic Where do I declare a total investment loss in Investors & landlords

Where do I declare a total investment loss

You may be able to claim a loss on worthless stock if the...