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How do I report the loss of privately held stock due to bankruptcy in Turbotax?

The investment was an angel investment in a medical device company that failed to raise additional cash in COVID and filed bankruptcy.

Best answer by DavidD66

You would report that in the same section you would report the sale of stock reported on a 1099-B:

Click on Search, and type in "Investment Sales"
Click on "Jump to investment sales"
Click on "Other" when asked "OK, what type of investments did you sell?" and then Continue
Continue and fill out the details of your investment.
For Proceeds, use $0, and for date sold or disposed, use the date you became aware of the bankruptcy.

You would report that in the same section you would report the sale of stock reported on a 1099-B:

Click on Search, and type in "Investment Sales"
Click on "Jump to investment sales"
Click on "Other" when asked "OK, what type of investments did you sell?" and then Continue
Continue and fill out the details of your investment.
For Proceeds, use $0, and for date sold or disposed, use the date you became aware of the bankruptcy.

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