Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
wlabron1
New Member

How do i enter a worthless security for a capital loss? ("abandoned" stock that was delisted) it doesn't show up on my vanguard statement

 
1 Reply
MichaelMc
New Member

How do i enter a worthless security for a capital loss? ("abandoned" stock that was delisted) it doesn't show up on my vanguard statement

Losses on worthless securities are reported on Schedule D, just as if you had sold the security, only your selling price is zero.

You can recognize a loss on a security only in the year it becomes completely worthless. Even if a stock has been de-listed by an exchange, it may still have some value. Generally, there needs to be objective, irrefutable proof that the stock is worthless, such as an adjudication in bankruptcy, before taking a loss on worthless shares.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v