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J
JML
Level 2
March 6, 2021
Question

Worthless Investment Stocks

  • March 6, 2021
  • 2 replies
  • 7 views

Where do you input the worthless investment stocks?  My client thinks one of the stock he bought years ago went bankrupt and no longer included in the statements.

How to report and what information needed?

Thank you for sharing.

This topic has been closed for replies.

2 replies

George4Tacks
George4Tacks
Level 15
March 6, 2021

Report the sale in Screen 17.  In the lower left Sections click Schedule D and scroll down to find the checkbox for Worthless Security.

Start your research here https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/losses-homes-stocks-other-property/losses-homes-stocks-other-property-1

 

Answers are easy. Questions are hard!
    J
    JMLAuthor
    Level 2
    March 8, 2021

    Thank you so much, George4Tacks.

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