Hi, how can i receive the maximum $3000 deduction for stock losses in 2020? The total loss is -$8200. Turbo Tax is only adding $600 to my rebate. Thank you

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Hi, how can i receive the maximum $3000 deduction for stock losses in 2020? The total loss is -$8200. Turbo Tax is only adding $600 to my rebate. Thank you

Your rebate and your capital loss are unrelated. Your capital loss will be on Line 7 1040.

7 Capital gain or (loss). Attach Schedule D if required.

Hi, how can i receive the maximum $3000 deduction for stock losses in 2020? The total loss is -$8200. Turbo Tax is only adding $600 to my rebate. Thank you

A $3000 deduction does not mean your refund changes by $3000. You just don't pay tax on the $3000.

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