topic How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it. in Investors & landlords

How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

TbUser — Sat, 06 Mar 2021 20:49:36 GMT

e.g. Company Stocks of VAL, WLL - those went Bankrupt in 2020. All those stocks values are LOSS (against the Gain in 2020).

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

fanfare — Sun, 07 Mar 2021 02:27:35 GMT

have your broker remove the stock from your account.

Then you will get a 1099-B -- for 2021.

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

TbUser — Sun, 07 Mar 2021 21:30:52 GMT

Broker form shows ONLY gain,s, NOT those WORTHLESS Stocks where the corporation went bankrupt.

On TurboTax - it must have a place to show these LOSSES. Where is that in TurboTax ? I am using Premium, but still, this option is not there.

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

TbUser — Sun, 07 Mar 2021 22:39:42 GMT

I am using TT Premium, and expect it must be all bug-free.

Why TT is using customers to test their online filing software?

It is not the job of customers to find and report these defects.

RATING OF TURBOTAX = VERY POOR

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

fanfare — Sun, 07 Mar 2021 23:35:03 GMT

broker form doesn't show them because you did not dispose of them.

Have the broker dispose of them for $0.00 or $1.00 for everything.

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

TbUser — Sun, 07 Mar 2021 23:48:57 GMT

the issue here is not what the broker stated in his form (or if the broker did not show those worthless stocks).

I want to enter the honest and true stock's value after the company bankruptcy, and TT does not provide the option to enter it, and also does not calculate it when all corrected figures have been entered in TT.

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

fanfare — Sun, 07 Mar 2021 23:53:06 GMT

you can't report a loss if you did not dispose of the securities. they are still in your account.

what did you plan to enter for "Date Disposed" ?

Re: How to enter the Stocks (those were purchased in 2020) but the company went Bankrupt and stocks become worthless. Please send the example of data how should i enter it.

fanfare — Sun, 07 Mar 2021 23:59:58 GMT

if you still want to go ahead,

enter

Description : "n shs XXX stock (worthless)"

Date Acquired : <date>

Date Disposed : 12/31/2020

Cost: <your cost>

Proceeds. 0.0

the sales category is F.