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Get your taxes done using TurboTax
You would enter the sale of the cow by clicking the following:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other
- Continue through and select Other again for the type of investment
- Answer that you received it as a gift
- You will need to enter the selling price, dates and the cost basis of the person who gave it to you. So if they paid $500 for the cow, you would enter $500.
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‎February 2, 2023
8:53 AM