2904814
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

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

Report REIT investment loss, but no Tax forms, only letter

How do I report a loss after a REIT company closed down? No 1099 type form, but they gave an official letter with: 1) Distrubution amount, 2) Cost Basis, 3) Taxable Loss

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DaveF1006
Expert Alumni

Report REIT investment loss, but no Tax forms, only letter

You can report it by going to :

 

  1. Open (continue) your return in TurboTax.
  2. In the search box, search for investment sales then click the "Jump to" link in the search results.
  3. Answer Yes to the question Did you sell any investments?
    • If you land on the Here's the investment sales we have so far screen, click Add More Sales.
  4. Answer No to the 1099-B question.
  5. On the next screen, select the type of sale you had here you can say an REIT sale
  6. Continue following the onscreen instructions to enter the sale." This includes the distribution (proceeds) and the cost basis. The loss should generate on its own from the difference between the proceeds and the cost basis assuming the cost basis is larger than the distribution amount.
  7. Be sure to claim he right holding period. If you own this investment longer than one year, be sure to report as a long term investment.
  8. You can only claim $3k in losses each year. The remainder is carried over. The same rules apply no matter what type of investment loss it is.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question