DianeW777
Expert Alumni

Deductions & credits

Confirmation below and as stated by our tax expert @RobertB4444 an investment loss is not reported on Form 4684. Following the steps below will report it in the appropriate location for an investment loss. Keep in mind that future payments will be reported the same way however you will no longer have a cost basis to recover after 2024.

 

To enter your sale in TurboTax, follow these steps. 

  1. Open or continue your return.
  2. Navigate to the investment sales section:
    • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
    • TurboTax Desktop: Search for investment sales and then select the Jump to link. 
      • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
  3. Answer Yes to the question Did you sell any of these investments in 2024?
    • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
    • Click this link for more information. Where do I enter Investment Sales?
    • Enter your full cost basis and the payment you received in 2024 as the selling price, you must enter 2024 as the sell date, however you can use 'Something other than a date' to select Various for the purchase date. You must know whether it is short term or long term holding period. Both may not have basis reported to the IRS ('Covered or Noncovered').

@alejandrocastro8 

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