topic Where do I deduct losses from sale of stocks in Investors & landlords

Where do I deduct losses from sale of stocks

DavidWNH — Mon, 23 Feb 2026 10:11:59 GMT

Re: Where do I deduct losses from sale of stocks

MarilynG1 — Wed, 25 Jan 2023 22:52:09 GMT

When you enter your 1099-B for Stock Sales, your Gain or Loss is reported on Schedule D in your tax return. TurboTax does this automatically for you after you enter all your stock sales.

The most important aspect in determining Gain or Loss is the Cost Basis of the stock you sold in relation to the Sale Price.

Click this link for more info on how to report Investment Sales.

Re: Where do I deduct losses from sale of stocks

Hal_Al — Thu, 26 Jan 2023 15:45:25 GMT

Q. Where do I deduct losses from sale of stocks?

A. Your net loss is calculated on Schedule D and carried to line 7 of form 1040. You are only allowed to deduct $3000 of losses, each year, against ordinary income. So, line 7 will be not more than (minus) $3000. Any excess will carry over to next year.

In TurboTax (TT), enter your stock sales at:
- Federal Taxes tab (Personal in Home & Business)

- Wages & Income

Scroll down to:

-Investment Income

-Stocks, mutual funds, Bonds, Other