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January 11, 2025
Question

Company bankruptcy on common shares

  • January 11, 2025
  • 1 reply
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1099-B on a company stock that when bankruptcy in 2024, how to post losses in turbotax?

1 reply

Employee
January 11, 2025

The sales price would be zero and the cost basis would be what you actually paid for the stock and December 31st as the date of sale.  You should use the description as 'Worthless'.