Bankrupt Stock

How do I enter shares that are now bankrupt? I need them out of my investing section and have the value show up in "_realized Gain/Loss" on my Income Statement and of course offsetting on my Balance Sheet showing "0.00" for that investment value

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓

    How about selling the security for $0?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓

    How about selling the security for $0?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • JSchinz
    JSchinz Member ✭✭
    edited March 18

    Thanks - I entered the shares as sold for $0.00. Checked my Balance Sheet and the Security shows as $0.00 and checked my Income/Expense stmt and it shows " _realized gain/loss as negative $xxxx.xx". All is exactly what I wanted.

    Thank You