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New Member
posted Apr 25, 2021 3:42:15 PM

How do I report my investment Loss of $250,000 in a business which has gone bankrupt.? Is this Premiere Turbo software is correct or I should have another one?

0 5 600
5 Replies
Expert Alumni
Apr 25, 2021 4:01:51 PM

TurboTax Premier will handle this transaction.

 

Report this in the "Stocks, Mutual Funds, Bonds and Other " interview of Investment Income. Unless a Form 1009-B was issued, this would be an "Other" transaction.

 

See the following screenshots for aid in navigation:

 

 

Level 2
May 29, 2022 4:54:20 AM

Have losses on stocks like K-Mart & more. How do I report these with Premier TurbosTax?

Level 15
May 29, 2022 4:59:32 AM

If you sold the stock for a loss simply enter the 1099-B from the broker in the investment section. 

 

Level 15
May 29, 2022 6:31:10 AM

You cannot claim a loss until you actually realize it, by selling the security.

Level 15
May 29, 2022 9:39:02 AM

what type of business? C-corp, S-corp, proprietorship, partnership.

 

 

for a C-Corp it would probably be the amount invested. for the others, they may have thrown off ordinary losses which should be deductible but then that would reduce your investment $ for $