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Level 2
January 31, 2025
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Where in Turbo Tax does a capital loss get entered?

  • January 31, 2025
  • 1 reply
  • 9 views
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    Best answer by rjs

    Expert Reviewed

    You don't enter the loss. You enter the sale of whatever it was that you sold at a loss. You enter the proceeds of the sale and the basis. TurboTax will calculate the loss.


    Enter it as an investment sale. Go to Federal Taxes > Wages & Income. Under "Investment Income" click the Start or Update button for "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other."

     

    1 reply

    rjs
    Level 15
    rjsLevel 15Answer
    Level 15
    January 31, 2025

    Expert Reviewed

    You don't enter the loss. You enter the sale of whatever it was that you sold at a loss. You enter the proceeds of the sale and the basis. TurboTax will calculate the loss.


    Enter it as an investment sale. Go to Federal Taxes > Wages & Income. Under "Investment Income" click the Start or Update button for "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other."