So I 'm getting ready to due my taxes and I'm looking over my 1099B form. It gives me a value for the amount of stocks that I sold. I actually lost a little money on the deal. Then it says that I cant claim a loss of my taxes. What is the deal with that? I'm sure some of you have experience with this before.

 

I believe you can only claim it against stock earnings. So if you sold stock and made $1000, then sold some stock and lost $1000, then you could claim it. Also it would depend on the reason for the sale. I had stock that through a merger was paid out at a loss. I believe I could claim that as I did not sell it through my choice.

 

Oh, OK. thanks

 

You can claim up to a $3,000 loss... as long as the sale and loss meet all the qualifications.