Can I report capital gain/loss without 1099-B in Desktop Deluxe?

[MDohDC]

I'm using Desktop Deluxe and have a long-term capital loss from stock in a company that went bankrupt. I do not have a 1099-B. Can I report that in Deluxe or do I have to upgrade to Premiere?

[ReneV4 · Accepted solution]

Yes. You can report your stock transaction in TurboTax Desktop Deluxe, even though you do not have a 1099-B. To report your stock transaction in your version of TurboTax Desktop, do the following:

1. Go to Federal Taxes, Wages & Income, Investment Income
2. Click Start to the right of Stocks, Crypto...Other
3. Click +Add investments, then select whether to import, or type in yourself
4. When you reach, "Premier is a better product for you if you have investment sales to report", click Continue in TurboTax Deluxe

Next, enter the details manually:

• Description: Enter the company name followed by the word "Worthless"
• Date Acquired: Your original purchase date
• Date Sold: Use 12/31/2025 
• Proceeds: $0
• Cost Basis: The total amount you paid for the shares

Because you held the stock for more than a year before it became worthless, it will show up on Schedule D as a long-term capital loss. This will first offset any capital gains you have.

If you have a net loss, it will offset up to $3,000 of your regular income, with the rest "carrying over" to next year.