In 2017 I sold collectible coins, and my expenses were greater than my income. Is there a way to deduct the loss in Turbo-Tax Premier?

[MichaelDC · Accepted solution]

Yes. Long-term gains/losses on collectibles—such as stamps, antiques and coins—are taxed at 28%, unless you're in the 10% or 15 % or 25% bracket, in which case the 10% or 15% rate or 25% rate applies.

Please feel free to post any additional details or questions in the comment section.

Here's how you enter those:

1. Open (continue) your return in TurboTax.
2. In the search box, search for "investment sales" then select the "Jump to" link in the search results.
3. Answer Yes to the question Did you sell any investments?
   • If you land on the Here's the investment sales we have so far screen, select Add More Sales.
4. Answer No to the 1099-B question.
5. On the next screen, select the type of sale you had (second home, collectible, land etc.) and Continue.
6. Continue following the onscreen instructions to enter the sale.