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Get your taxes done using TurboTax
it depends. It sounds like two transactions are taking place.
- Free stock was received as a referral.
- The stock was sold
For the free stock you received for your referral the income is reported as follows (a 1099-MISC may not be reported if the amount is less than $600).
Go to the Wages and Income section of TurboTax
- Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
- Select Other reportable Income > Enter a description (Referral) and the amount
Next if the stock was sold you enter the sales as follows:
- Search (upper right) > type schedule d > use the Jump to... link select
- Select ..type it myself or you can choose to import if you have a 1099-B
- Your cost basis is the amount you reported as income (2021 and 2022 if all stock was sold)
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‎February 17, 2023
6:15 AM