Where do I enter a capital gain or loss? (2024)

Capital gains, losses, and 1099-B forms are all entered in the same place:

1. Open or continue your return in TurboTax.
2. Search forinvestment sales and then select the Jump to link in the search results.
3. Answer Yes to the question Did you have investment income in 2023?
   • If you land on the Your investments and savings screen, selectAdd investments.
4. Follow the instructions and we'll calculate the gain or loss from the sale.

Your total capital gains for the year minus your total capital losses result in a net gain or a net loss.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.