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twoboyz4nan
New Member

I have stock losses from a company who went bankrupt in 2018. How can I report this?

 
1 Reply
KittyM
Level 2

I have stock losses from a company who went bankrupt in 2018. How can I report this?

This is reported as a stock sale.  If you have received a 1099-B from your brokerage, you will need to enter the information in TurboTax.  All the information you need to enter the stock sale should be on the brokerage statement. 

To enter a stock sale in TurboTax,

  • In your open Federal return, choose Wages & Income
  • Scroll down to Investment Income and Show more
  • Start or Revisit Stocks, Mutual Funds, Bonds, Other
  • Add a sale and answer Yes, you got a brokerage statement. (If you did not get a brokerage statement for some reason, answer No. You will see the screen Choose the type of investment you sold.  Select the option for Stocks and Continue.)
  • On the next page "Choose your bank or brokerage," or scroll down and select "I'll type it in myself."
  • Enter your brokerage name and Continue
  • On the page "Tell us about your Brokerage 1099-B" choose the radio button for "I'll enter one sale at a time."  
  • Continue through the interview and enter your information.  When you reach the screen Do Any Special Situations Apply to This Sale? choose the option for worthless securities.
  • If you need more info at any time, select Learn More.

 

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