topic Stock Sale that was a loss in Get your taxes done using TurboTax

Stock Sale that was a loss

Justjoan1 — Tue, 10 Feb 2026 09:18:04 GMT

I took a $16 loss on a stock sale. If I report it I have to upgrade to a higher level package on turbo tax. I only made that single sale. Can I disregard on my taxes

Re: Stock Sale that was a loss

Mike9241 — Sun, 28 Jan 2024 21:27:27 GMT

the issue is that the IRS will get a 1099-B with the proceeds reported whereas your return will show no proceeds. You might get a notice from the IRS for the missing proceeds (it may depend on the amount). so you have options. don't report the sale and wait to see if you get a notice and follow the instructions on it, e-file correctly or paper file with a manually prepared schedule D.

Re: Stock Sale that was a loss

Cynthiad66 — Sun, 28 Jan 2024 21:38:59 GMT

Yes, you can disregard it because it is considered De minimus. However, that does not mean that the IRS will not discover it and send out a notice for the $16. Just keep records to show that you are aware of the transaction and decided it cost more to include it in taxes.

You can also be creative and show the $16.00 as other income with an explanation. A single transaction for such a small amount should not cause a problem.

Here is how to enter Other Income:

Click on Federal > Wages & Income.
Scroll down to the Less Common Income section.
Click on the Start/Revisit box next to Miscellaneous Income.
Scroll to Other Reportable Income Click Start/Revisit.
Enter the Description and amount.

@Justjoan1