Show Loss from stock investment?

Yes, if you have a  capital loss from a recent stock transaction, it will help offset your income up to $3,000 (which reduces your taxes). If you have any remaining loss, it will carryforward to the next year. You will receive a Form 1099-B  from your brokerage next year which will have the information you need to report on your tax return. Please see below for more information.

"Net losses are deductible, but only up to a maximum of $3,000 ($1,500 if married filing separately). Any capital losses you couldn't deduct this year can be carried forward and deducted on future tax returns. This is called a capital loss carryover."

Please click here  for instructions on how to enter in TurboTax.

Hi @Ljs1216

Yes!  Net capital losses can be deducted from your income up to $3,000 each tax year.  Any unused capital losses can carryforward to future years to offset capital gains.  Please go to the Investment section within your TurboTax account.  Most of our users are able to import the information directly from their brokerage accounts using their log in credentials.

Here is a link with detailed information on how to enter or import your stock transactions:

Where do I enter or import a 1099-B? 

Thank you!