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C
chezla03
February 6, 2025
Question

Where do I enter capital losses on stock investments?

  • February 6, 2025
  • 1 reply
  • 0 views
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    1 reply

    M
    MayaD
    February 6, 2025

    Enter your 1099-B Proceeds From Broker and Barter Exchange Transactions form and TurboTax will calculate your losses. 

    Where do I enter or import a 1099-B?

    If you sold at a loss, you can offset that amount from your overall gains, reducing the amount you’ll be taxed on. If your losses are more than your gains, 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.

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