Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
mfa456
Level 2

Had stock in a corporation that declared bankruptcy. The "Worthless Stock" link in the search box does not take me to a screen where I can directly input data. No 1099-B

I think I need a screen that will allow sale input with no 1099-B.   The link appears to not be working the same as the narrative suggests.  Thanks for any help.
2 Replies
DaveF1006
Expert Alumni

Had stock in a corporation that declared bankruptcy. The "Worthless Stock" link in the search box does not take me to a screen where I can directly input data. No 1099-B

If you don't have a 1099-B, you will need to enter the information as if you did have one. 

 

To enter worthless stock as investment sales:

  1. Open (continue) your return in TurboTax.
  2. In the search box, search for investment sales then click the "Jump to" link in the search results.
  3. Answer Yes to the question Did you sell any investments?
  4. If you land on the Here's the investment sales we have so far screen, click Add More Sales.
  5. On the next screen, select the type of sale you had (second home, collectible, land etc.) and click Continue.
  6. Continue following the onscreen instructions to enter the sale.
  7. When it asks you for the sales information, you will enter what you paid for the stock and then enter zero for sales proceeds and then all other pertinent information that it asks.
  8. The next screen should ask Let us know if any of these situations apply to this sale
  9. Here you would check This was a worthless security
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
mfa456
Level 2

Had stock in a corporation that declared bankruptcy. The "Worthless Stock" link in the search box does not take me to a screen where I can directly input data. No 1099-B

Thank you!  Worked well. 

Dynamic AdsDynamic Ads
Privacy Settings
v