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Level 3
posted Mar 16, 2024 8:53:12 PM

How to report investment loss if no 1099-B is issued?

I have some investments on notes issued by an online platform. The platform filed bankruptcy in June 2023. As an investor, I didn't get any 1099-B for 2023.

I tried to find a way to enter this long term loss in TT without a 1099-B, since I was able to do so last year. But in TT 2023, I didn't see this question -- "Did you get a 1099-B or a brokerage statement for these sales?", which allows me to enter loss w/o 1099-B. Can anyone help? Thanks!

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1 Replies
Expert Alumni
Mar 17, 2024 6:38:38 AM

In TurboTax Online Premium, enter an investment by following these steps:

 

  • Click on Federal down the left side of the screen.
  • Click on Wages & Income down the left side of the screen.
  • Scroll down to Investments and Savings and click the down arrow to the right.
  • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
  • You may have to click Add investments.
  • At the screen Let's import your tax info, click Enter a different way.
  • Click on Stock, Bonds, Mutual funds. Click  Continue.
  • At the screen Which bank or brokerage is on your 1099-B, enter the information. Click Continue.
  • Do these sales include any employee stock, click No.
  • Do you have more than three sales on your 1099-B, click No.
  • Do these sales include any other types of investments, click No.
  • Did you buy every investment listed on your 1099-B, click Yes.  Click Continue.
  • At the screen Now, choose how to enter your sales, select One by one.  Click Continue.
  • At the screen Look for your sales on your 1099-B, click Continue.
  • At the screen Now enter one sales total on this 1099-B, enter information. Click Continue.
  • Repeat as necessary by clicking  Add another sales total.  Click Continue.

In TurboTax Online, enter an investment by following these steps:

 

  • Go to Federal / Wages & Income / I'll choose what I work on / Investment Income.
  • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
  • Click Add investments.