If you had an ownership interest in the venture, you would report it as an investment sale, with the proceeds being $0 and the cost basis being your adjusted basis in your interest. You report an investment sale in TurboTax as follows: Income and expenses Investment Income Stocks, Mutual Funds, Bonds, Other Indicate that you did not get a 1099-B form Choose the "I'll enter one sale at a time" option Compete the form asking for Description, date sold, etc...

Question

How do I write off a loss? I invested in a start up that failed, I have a letter from the former owner that says they filed BK... not sure where I need to go to write off

Forum|Forum|5 years ago
April 1, 2021
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ThomasM125

If you had an ownership interest in the venture, you would report it as an investment sale, with the proceeds being $0 and the cost basis being your adjusted basis in your interest.

You report an investment sale in TurboTax as follows: