How do I file for loss when a company goes bankrupt & files a chapter 11?

You can deduct worthless stock only in the tax year it becomes completely worthless. This normally happens when the corporation files for bankruptcy, stops doing business, and has no assets. Financial difficulties won't make a company's stock worthless unless there is no hope that the company will pull through.

Enter a worthless stock like any stock sale but with a sales price of zero and the word "worthless" in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.

See   https://ttlc.intuit.com/questions/2899549-how-do-i-deduct-worthless-stock

To enter worthless stock:

·         Type in investment sales in the search box, top right of your screen, click the magnifying 

          glass

·         Click the jump to investment sales link in the search results

·         Follow to prompts and online instructions