83(b) election loss

[pdfenton42]

I received restricted stock award in 2014 and filed an 83(b) form and paid taxes based on FMV at that time.  The company has now been sold and my payout from the stock was significantly less than the original value.  How do I take the loss on my 2021 return?

[DianeW777 · Accepted solution]

Under this election you have the cost basis as the amount you paid under the 83(b) election.

When the stock is sold the sale is reported on Form 1099-B. Where do I enter Form 1099-B?

Income & Expenses

1. Scroll to Stocks, Mutual Funds, Bonds, Other
2. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
3. On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
4. From here, you can import or manually enter your 1099-B.
5. Answer the questions about your sales. Choose to Enter sales one by one when asked.
6. On the Now, we'll enter one sale on your 1099-B screen, enter your info.