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Level 1
February 13, 2021
Question

Stocks

  • February 13, 2021
  • 1 reply
  • 0 views

Okay, so i lost 16k in the stock market this year. Will robinhood still send me a 1099 so i can use that as capital loss?  And reduce my taxable income from my normal job. Or will they not send me anything because i didnt make anything? 

1 reply

Level 15
February 13, 2021

Yes, you should receive a 1099-B.

ColeenD3
Level 15
February 13, 2021

They are required to tell you all your transactions. Your capital losses can help reduce other taxable income. You can deduct up to $3,000 per year.