Dividends and Stocks

John0624 · ‎January 23, 2022

So I bought and sold stocks in 2021. I sold all of them at a loss and from my understanding I do not have to pay taxes of those. but I also received a $0.75 dividend during that time. do I have to file taxes because of that and how do I file that through TurboTax?

RobertB4444 · ‎January 23, 2022

Your stock broker should send you a 1099-B for all of your stock trades for the year (as well as a 1099-DIV for that dividend). The 1099-B can even be directly imported into TurboTax. Once you've received it you should be all set.

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rjs · ‎January 23, 2022

You should file a tax return even if you are not required to, in order to establish the capital loss. The loss can be carried over and used to offset income in future years, but only if you report it in the year it occurred. You should file a tax return every year until the loss is used up.

You can use the calculator at the following link on the IRS web site to see if you are required to file a tax return.

Do I Need to File a Tax Return?