Capital lost company delisted

Forum|Forum|1 year ago
March 9, 2025
1 reply
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I purchased company stock options that vested (held for a year). The company went public but had multiple reverse splits. The stock became worthless. I paid about $70, 000 for the stock.

The company delisted from the stock exchange in 2024, and I received a check for 82 cents.

I need to claim lost for 2024.

Thank You,

ThomasM125

You enter that as an investment sale in TurboTax. You enter investment sales in the Wages and Income section of TurboTax, then Investments Sales, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents. Choose Other as the type of investment you want to enter. You'll come to a screen where you can enter in your sales proceeds and cost basis. The cost basis will be what you paid for the stock, including any income from the discount you may have received when you acquired the shares that was reported on your W-2 form. The sales proceeds would be $0.

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