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February 25, 2020
Question

If I forgot that I had traded stocks and lost money, can I still claim that lost?

  • February 25, 2020
  • 1 reply
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1 reply

ReginaM
February 25, 2020

Yes, you can add your stock trade to TurboTax if you have not already filed your return by following these steps in TurboTax:

  1. While in your Tax Home,
  2. Select Search in the top right side of your screen,
  3. Enter 1099-B,
  4. Select Jump to 1099-B,
  5. Follow the on-screen prompts.

If you have already filed your return, you would need to file an amended return.   In order to file an amended return, make sure that your 2019 return was accepted in TurboTax Online or paper-filed through the mail by the IRS.

 

To prepare an amended return through TurboTax, follow these steps:

  1. Sign in to TurboTax.
  2. Scroll down to Your tax return & documents (you may need to select Show), select 2019 and then Amend (change) return.
  3. Select Amend using TurboTax Online.
  4. Carefully follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
  5. When finished, we'll give you instructions for printing and mailing your amended return as amendments can't be e-filed.

 

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