Question

I have a long term loss on an ETF that was not reported on my brokerage issued 1099. How do I add this loss?

Forum|Forum|1 year ago
March 12, 2025
1 reply
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This was an ETF trading in Russia that was closed with a total loss. No loss on 1099 reported by my brokerage

Employee

Did you receive a 1099-DIV by any chance? You can deduct worthless securities only in the tax year they becomes completely worthless.

You can report the loss as an investment sale. Choose the 1099-B option, even if you don't have one. Skip the import option. How do I enter investment sales?

You'll enter the name of the investment and then a purchase date of when you bought the ETF and a purchase amount.

Then you'll enter a sale date of when the investment was closed in 2024. Use 12/31 for worthless securities without a closing date. Make certain that you are not entering this sale if there is any chance of a partial recovery in the future. The sale is entered when you are certain it is worthless.

Keep detailed records in case of an inquiry.

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