I sold stock what documents should I receive from the brokerage firm?

[jimandpam1]

The value of the stock was less than when I aquired them.

[VolvoGirl · Accepted solution]

You should get a 1099B  form  in January.  You will need to use the Online Premium version or any Desktop program to enter stock sales.  

If you have investment sale losses, after you subtract the losses from your gains you can only deduct up to 3,000 (1,500 MFS) per year. The rest you will have to carryover until it is used up.

[DoninGA]

You will receive a Form 1099-B from the brokerage firm in late January or early February 2024 for a tax sale that occurred in 2023.

To enter an investment sale in TurboTax -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
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