It depends. If you have a capital loss carryover from 2024, then you will enter that loss under Investment Income, selecting Capital Loss Carryover.
Please clarify with more detail exactly what this capital loss if from if not a sale and we can provide more direct guidance on how to report it. If you are referring to a worthless security use the instructions below. Make sure it is completely worthless with documentation.
To enter worthless stock as investment sales: (You should use the description as 'Worthless'.)
- Open (continue) your return in TurboTax.
- In the search box, search for investment sales then click the "Jump to" link in the search results.
- Answer Yes to the question Did you sell any investments?
- If you land on the Here's the investment sales we have so far screen, click Add More Sales.
- Answer No to the 1099-B question, if it doesn't ask just select the 'Other' box.
- On the next screen, select the type of sale you had (stock, second home, collectible, land etc.) and click Continue.
- Continue following the onscreen instructions to enter the sale. Sale date should be December 31st.
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