I have been trying to enter a QSBS sec 1202 stock sale on 2023 Turbotax desktop on a Mac.
I searched this forum, and followed every instruction, but cannot get to the page that asks me what percentage is excluded.
I called the support line (twice) and they watched me on "screen share" and they could not understand why it wasn't working.
Here are the steps I take:
1) From Wages & Income -> Investment Income I click "Update" next to "Stocks, Crypto..."
2) I click "Add more sales"
3) I select "Stocks, Bonds..." and click Continue
4) I select "Skip this import"
5) I enter "Bank or brokerage" as Vanguard Group (leave other fields blank)
6) I select "No" for "Do these sales include and employee stock"
7) I select "No" for "Do you have more than three..."
😎 I select "Yes" for "Do these sales include..." (even though I don't I should - but previous post said to)
9) I select "Yes" for "Did you buy every investment..."
10) I click "Continue"
11) I select "One by one" and then click "Continue"
12) I click Continue on the useless page
13) I enter "Long-term did not receive 1099-B form", "Stock (non-employee), Description "100 Foo", acquire date "01/01/1999", Date sold "05/01/2023", proceeds "$1,000", Cost "$100" then click "Continue"
14) On the "Let us know if any of these..." screen I select only "This was a small business stock", then Continue
15) I select "I don't want to make an changes...", then Continue
16) I select "Qualified small business ... (section 1202), then Continue. [And I have also tried the section 1045 with a $0 purchase price].
17) $0 for previous sales of this stock - NOTE - this page is very ambiguous. Is it asking for the dollar amount that is eligible to exclude for this sale? Or is it asking how much I have sold in the past so it can determine if I have reached the $10,000,000 limit?
18) Now it kicks me to back to the "Review your Vanguard Group sales page (same as #2 above).
In Forms, the "Capital Gain (Loss) Adjustment Worksheet" in Part III has an X in "Gain from this Qualified..." and an X in "This QSB stock is eligible for 50% exclusion under section 1202", but the amount excluded is 0.
If I enter an amount here, it excludes half the amount, but it appears to include that amount somewhere else and my tax is not reduced by the correct amount. I have not tracked this part down.
Help???
