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Where is the page that addresses capital gains?

 
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1 Reply
PattiF
Expert Alumni

Where is the page that addresses capital gains?

Capital gains, losses, and 1099-B forms are all entered in the same place:

  1. Open or continue your return in TurboTax if it isn't already open
  2. Search for investment sales and then select the Jump to link in the search results
  3. Answer Yes to the question Did you sell stocks, mutual funds, bonds or other investments?
    • If you land on the Here's the investment sales we have so far screen, select Add More Sales
  4. Follow the instructions and we'll calculate the gain or loss from the sale

Your total capital gains for the year minus your total capital losses result in a net gain or a net loss.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

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