How do I enter a $3000 loss in Schedule D

Forum|Forum|4 years ago
February 4, 2022
2 replies
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Does the Premier package have schedule D in it?

TurboTax Premier Online

DoninGA

Level 15

Yes, the Premier edition support Schedule D

To enter an investment sale from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B), click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

VolvoGirl

Level 15

Yes. You don't enter the loss. You enter all your sales with the sales price and cost. Turbo Tax figures the net gain or loss. Are you referring to to the max 3,000 loss? After all the gains and losses if you have a net loss you can only deduct 3,000. The rest is carried over to next year.

Did you have a carryover loss from last year? If you transferred your prior return it should be already filled in.

Enter a Capital Loss Carryover under

Federal Taxes or Personal (Home & Business)

Wages and Income

Then scroll down to Investment Income

Capital Loss Carryovers - Click the Start or Update button