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Worthless Investment Stocks

JML
Level 1

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.

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George4Tacks
Level 15

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/lo...

 


ex-AllStar
JML
Level 1

Thank you so much, George4Tacks.

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