How to enter capital loss

If you had a capital loss from an investment, your broker should send you a 1099-B. You will need to upgrade to Premier from Deluxe to claim an investment loss. This should be entered under the Investment Income section.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

Capital gains, losses, and 1099-B forms are all entered in the same place:

1. Open or continue your return in TurboTax
2. Search for investment sales and then select the Jump to link in the search results
3. Answer Yes to the question Did you have investment income in 2022?
   • If you land on the Your investments and savings screen, select Add investments
4. Follow the instructions and we'll calculate the gain or loss from the sale