turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

my proceeds on 1d  is 77179.26  my cost basis is 88300.19  but where do i put the income i did get.
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 Best answer

Accepted Solutions

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

Answered in comments.

View solution in original post

6 Replies

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

You only enter the sales price and the cost.  Turbo Tax calculates the gain or loss.  The proceeds you got from the sale don't matter.

If you have investment sale losses, after you subtract the losses from your gains you can only deduct up to 3,000 per year. You can only deduct up to 3,000 (1,500 MFS) loss per year after any gains you have.  So if you have a lot of current gains you can use up the loss.  The rest you will have to carryover until it is used up.

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

Oh I guess they do call it sale proceeds.  You didn't see the spot to enter it?  You are entering the 1099B here?

You should get a 1099B for sales.  
Enter a 1099B  under
Federal Taxes Tab
Wages & Income
Then scroll down to Investment Income,
Then Stocks, Mutual Funds, Bonds, Other - click Start or Update

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

ok thank you .  i think i get it.

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

So The money i received at the time of the sale, doesn't get added to income on my taxes because it was from a loss...correct?

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

Right.  Just the gain or loss.

I received 24,000 dollars back after a sale of stock but my cost was higher than my sale. it shows negative lost. but how do i claim the money i did get.

Answered in comments.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies