How can I claim my losses on my 2008 tax return? If yes do I deduct $500 additionally to the standard deduction? I file form 1040. Which Line do I claim my losses on?

Thanks a lot

Use schedule D to report your realized capital gains and losses. Make sure that the sales amount you report on Schedule D agrees with the 1099-B form that your stock broker will send you by the end of January. Your loss gets transferred from Schedule D to line 13 of form 1040. You show the loss as a negative number, so the sum of your adjusted gross income on line 22 and then line 36 is reduced by your $500 loss.