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To report the information for a non-business bad debt it is similar to reporting a sell of stock.
When it asks if you received a 1099-B the answer is no.
The type of investment is Other
How did you receive this investment?
Purchase
Description
Non-Business Bad Debt
Date Sold or Disposed
A date in 2019 that you decided the debt was worthless
Proceeds
$0
Cost or other Basis
The amount of the Loan
Link with more information on How to Report Non-Business Bad Debt
To report the information for a non-business bad debt it is similar to reporting a sell of stock.
When it asks if you received a 1099-B the answer is no.
The type of investment is Other
How did you receive this investment?
Purchase
Description
Non-Business Bad Debt
Date Sold or Disposed
A date in 2019 that you decided the debt was worthless
Proceeds
$0
Cost or other Basis
The amount of the Loan
Link with more information on How to Report Non-Business Bad Debt
Diane - I'm in the same situation as Nicole. I tried to duplicate the steps you outlined, but those options do not appear in my version. Can you please try to duplicate on your end? Or if it is working appropriately for you (and it might be user error), please write even more detailed steps. 🙂
@djsmu What version do you have? You need to use online Premier or higher or any of the Desktop programs. I can try to get a screen shot. Did you find where to enter sales?
Start here,
Federal Taxes Tab (Personal for Home & Business)
Wages & Income
Then scroll down to Investment Income,
Then Stocks, Mutual Funds, Bonds, Other - click Start or Update
I made 4 screen shots. Can you find these? Go to Federal - Wages & Income at top - Then scroll down to Investment Income.
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