SAFE investment

[SandpipersSF]

I have a capital loss from a SAFE investment I made a few years ago and became worthless in 2024. How do I enter it in TurboTax Premier? The Q&A format is asking for then tax form I received but there is none. I have the original SAFE investments detailing the cost, and the statement of business closure detailing its worthlessness.  Thanks in advance....

[Shannon B1 · Accepted solution]

Here’s how to enter your SAFE investment into TurboTax Premier:

Open your return in TurboTax.

1. Go to Federal Taxes, then Wages & Income.
2. Under Investment Income, choose Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
3. Answer "yes" to "Did you have investment income in 2024?"
4. On the next screen, "Let Us Enter Your Bank and Brokerage Tax Document," click "Skip Import."
5. On the "OK, Let's Start with One Investment Type" screen, choose "Other."
6. Use the following screens to enter your investment information.

Since your investment is worthless, report the proceeds as $0 and the date sold as the date it was deemed worthless.