172816
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have a question about my Stocks section. I was told that if I lose money in stocks that I can get refunded up to $3,000. Is that is the case with my situation?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

I have a question about my Stocks section. I was told that if I lose money in stocks that I can get refunded up to $3,000. Is that is the case with my situation?

If you lost money on the sale of stock, you can receive a capital loss of up to $3,000 per year. Any additional loss will carry forward to the following years.

This is not a tax credit, it is a reduction in your taxable income. 

Without access to your tax return, I cannot confirm if this was applied in your case.

To confirm:

Go to Tax Tools, see the bottom of the black column on the left

Tools

View Summary

Click 1040 Preview, again in the black column

Scroll to Schedule 1, line 13 to see your capital gains/losses

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question