turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

heskm
New Member

I have a 1099 b for the sale of profit interest units. What type of investment did I sell? What is the sales category?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JohnB5677
Expert Alumni

I have a 1099 b for the sale of profit interest units. What type of investment did I sell? What is the sales category?

Profits interest refers to an equity right based on the future value of a partnership awarded to an individual for their service to the partnership. What is a Profit Interest

 

A profit interest is worth nothing upon receipt.  As equity gross the profit interest gains value.  The later sale of a equity interest will generally yield a more favorable tax treatment. 

 

 

This will be posted in the following way:

  1. Investment Income
  2. Select Stocks, Mutual Funds ... Other
  3. Yes you did get a 1099-B
  4. I'll type it myself
  5. Select broker
  6. Start entering the sales

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies