turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

why I still need to pay tax for stock loss

I have a big loss on stock in 2020. and in turbotax, when I import my tax form from my stock broker, it turns out i need to pay more tax. why is it

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

why I still need to pay tax for stock loss

When you sell a stock for a loss, this is considered a capital loss and can only be offset by selling stock for which you have capital gains. If you have no capital gain, then you can offset $3000 against other income. Any loss above $3000 can be carried forward into future years until the loss is completely used up.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies