Yes, if you incurred losses through the sale of stocks in 2016, you can deduct those losses.
However, you may need to upgrade to TurboTax Premiere edition to do so.
To enter an investment sale from a brokerage account (1099-B), follow the steps below.
- Click on Federal Taxes
- Click on Wages and Income
- Click on I'll choose what I work on (if shown)
- Under Investment Income
- On Stocks, Mutual Funds, Bonds, Other, click the start or update button