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I've made a bad investment last year and got scammed out of money. I consider that a capital loss. How would I record that within my income taxes?
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posted
March 4, 2021
1:28 PM
last updated
March 04, 2021
1:28 PM
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I've made a bad investment last year and got scammed out of money. I consider that a capital loss. How would I record that within my income taxes?
Thank you for choosing TurboTax,
Capital losses are claimed by completing schedule 3, and allowable losses may be used to offset gains within the current year, up to three years prior, or carried forward to future years, depending on the situation. You'll enter a capital loss in the investment section.
To enter a capital loss in TurboTax Online:
- Select the image of the magnifying glass (or Find) in the upper-right area of TurboTax
- Enter “capital” in the Find window
- Select "capital gains and capital gains deduction profile" from the list of results, and then select Go
- Follow the onscreen instructions.
April 17, 2021
8:54 PM