Report worthless securities on Form 8949 (2024)

  • Go to the

    B&D

    screen or the

    Broker

     screen in the

    Income

    folder. Only use the

    Broker

     screen if you're entering a consolidated broker statement.

  • On the

    B&D

    screen, open the

    Schedule for detail

    See Also
    Can I Take a Tax Deduction for a Bad Investment? - Intuit TurboTax BlogWhat Is a Capital Loss Carryover? Rules, Examples and DefinitionStatue of LimitationsWorthless Securities: Meaning, Overview, FAQ

    statement window. On the

    Broker

     screen, open the

    Proceeds

    statement window.

  • Select a code in the

    TSJ

    field. On the

    Broker

     screen, close the statement window and code the entire screen to

    TSJ

    .

  • Select a code in the

    8949 Box

    field.

  • Select a code in the

    Type

    field.
    See Also
    CCH AnswerConnect | Wolters Kluwer

  • Complete the

    Desc

    field.

  • Enter

    Wrthlss

    in the

    Date Sold

    field.

  • Complete the

    Sales Price

    and

    Cost/Basis

    fields.

  • UltraTax CS defaults to short-term treatment when you enter

    Wrthlss

    in the

    Date Sold

    field and the

    Date Acq’d

    field has a date in the same tax year. You can change the holding period to long term by using the

    Force

    field.

  • Use other fields in this statement as necessary for your client, or to get a specific result on Form 8949.

    • Report worthless securities on Form 8949 (2024)
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