How to Sell Stocks at a Loss
- 1). Assemble all of your brokerage statements and look for the original confirmation from the purchase of the stock. Also look for any additional confirmations if you purchased additional shares after the initial purchase.
- 2). Log on to your computer and open your spreadsheet program. Create a new spreadsheet and use it to record all of your purchase information. Be sure to include the original stock purchase, as well as any subsequent purchases. Record the number of shares you bought, as well as the purchase price.
- 3). Contact your broker to execute the sale of the stock. Wait for the confirmation that your stock sale has gone through. If you trade online you will receive an email confirmation of the sale; otherwise, you will get the confirmation in the mail in several days.
- 4). Record the sale price of the stock in your spreadsheet and calculate the difference between the initial purchase price and the proceeds of the sale. This is the amount of your loss.
- 5). Enter the amount of the loss on your tax return when you file your taxes for the previous year. Perhaps the only good thing about selling a stock for a loss is that the amount of the loss can be deducted from your taxes.