Investment in a startup that dissolved

Forum|Forum|1 year ago
February 15, 2025
1 reply
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I invested in a startup that dissolved in 2024. I have the certificate of dissolution, but there is no 1099. Where can I enter this loss? Any investment I try to add in Turbotax asks for a 1099 and I can't get past that.

Best answer by MAK70

You will enter as capital loss.

Under Investments and Savings, go to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

Did you have investment income in 2024? YES
Let's import your tax info Enter a different way
OK, let's start with one investment type Other
On the screen that says: Tell us more about this sale:

Your Cost or other basis is your investment amont
Your Proceeds is zero (0)

MAK70Answer

You will enter as capital loss.

Under Investments and Savings, go to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

Did you have investment income in 2024? YES
Let's import your tax info Enter a different way
OK, let's start with one investment type Other
On the screen that says: Tell us more about this sale:

Your Cost or other basis is your investment amont
Your Proceeds is zero (0)

Confused37Author

This got me really close and I figured it out from there. Thank you so much for your help!

For benefit of others in the same situation: I'm using TurboTax Premier, so options didn't look exactly as described. I clicked on "update" next to "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other". At the bottom of that screen, I clicked on "add investments", then "skip import", then "other".

I may have answered a question wrong in the initial step-by-step interview. Maybe that's why I don't see the prompts exactly as described.