Ordinary Loss

[AL618]

I received a form Long-Term Realized Gain/Loss (not sent to IRS) attached to the 1099-Div, 1099-Misc, 1099-B, 1099-OID, that I received for the sale of a GS USA CD Zero Cpn.  It says this is a contingent debt instrument and it shows an amount as Ordinary Loss.  I do not itemize on Schedule A I take standard deduction. Where do I enter this loss amount?  

[ColeenD3]

This is entered in the Investment section.

Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities.

Here's where you enter or import your 1099-B in TurboTax:

1. Open (or continue) your return if it isn't already open
2. Select the magnifying glass, search for 1099-B and then select the Jump to link in the search results
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
   • If you see Your investment sales summary, select Add More Sales
4. On the OK, let's start with one investment type screen, select the category that applies to your situation and Continue
5. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
6. At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself)
7. Answer the questions about your 1099-B

Form 1099-B is included in TurboTax Premier, TurboTax Live Premier, Self-Employed, and TurboTax Live Self-Employed (online) and in all personal CD/Download versions of TurboTax.

[genmin51]

It appears that if you follow these instruction you end up reporting capital loss on your cd sale. Capital loss usually taxed at lower rate than ordinary income, so you will lose some money.