I've invested an a number of preferred shares in a private company that went belly-up. I have a 'worthless investment letter' from the company for proof of value. How do I specifically report the loss and do the same rules apply for loss carryover every year as for regular public company stock loss sales?
According to Awesome Turbo Agent HelenC12, she states to "enter a worthless stock like any stock sale but with a sales price of zero and the word "worthless" in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.
[Edited 02-28-2021|05:46 PM PST]
According to Awesome Turbo Agent HelenC12, she states to "enter a worthless stock like any stock sale but with a sales price of zero and the word "worthless" in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.
[Edited 02-28-2021|05:46 PM PST]