Hi

In 2011 I lost $2711 in short term stocks. But I also had long term gains from gold and other stocks bringing my net loss to only $71. So on line 13 of my 1040 I claimed only $71 in loss. Did I do it right? Could I have claimed more in losses? If yes, Can I carry over anything this year or can I file an amended return?

Thanks
Imad

Did you submit Schedule D and Firm 8949 to provide the details of stock and gold transactions? If you did, then you did good.

If, however, all you entered was the $71 loss on line #13, then you need to amend the return and provide the Schedule D and Form 8949.

If you need professional help, email at the email address in my profile.