Entering bankrupt long term investment in 2025 Turbotax Premier desktop without a 1099-B

[Retiredjeff]

We bought stock in a privately held medical company in 2019.  In 2025 they announced bankruptcy after failing to get a buyer.  No 1099-B was received and none will ever be received (no bank or investment company involved).  2025 TT Premier desktop seems to demand I enter the name of the bank/investment company issuing the 1099-B to make any progress with entering.  How can I get this entered in 2025 TT Premier desktop without a 1099-B??

[MaryK4 · Accepted solution]

To enter worthless stock as investment sales in TurboTax Premier desktop:

Under FEDERAL TAXES tab,  Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings.

1. Did you have investment income in 2025? YES
2. On the Let's finish pulling in your investment income- click on the Add Investment button
3. On the Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import
4. OK, let's start with one investment type- choose Other then Continue
5. Tell us more about this sale  Worthless Stock Continue
6. Now, enter one sale for WORTHLESS STOCK (Proceeds=0 Date sold or disposed= 12/31/2025)
7. Let us know if any of these situations apply to this sale  This was a worthless security  Continue

See Worthless Securities for more information.

[Retiredjeff]

MaryK4 - thanks.  Every step matched the software, appreciate the speedy, accurate response.