Get your taxes done using TurboTax

When you get to item 5 below, you'll be able to select import. 

Here's where you enter or import your 1099-B in TurboTax:

1. Open (continue) your return if it isn't already open.
2. In TurboTax, search for 1099-B and then select the Jump to link in the search results.
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
   • If you see Here's the info we have for these investment sales, select Add More Sales.
4. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
5. At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself).
6. Follow the instructions.

Your net capital gain/loss is calculated by subtracting your capital losses from your capital gains (Schedule D).

• If you have a net capital loss, you're allowed to deduct up to $3,000 ($1,500 if married filing separately) per year as a capital loss.
• If your net capital loss is more than the yearly limit, you can carry the loss to next year's return as a capital loss carryover.