JohnB5677
Expert Alumni

Get your taxes done using TurboTax

I would suggest that you do prepare a tax return.

  • Investment income has multiple twists and turns
  • You can do this withs a TurboTax Online account.
  • You can prepare the return and then decide if you need to file it or not.
  • You won't pay until you actually file.

To start a new TurboTax Return

  1. Go to TurboTax
  2. Select Start In TurboTax
  3. Create an ID and Password
  4. Start a TurboTax session
  5. You will need upgrades to file stock trades.

You should log into TurboTax.

  1. Under Federal
  2. Select Wages & Income
  3. Scroll through the drop down list to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
  4. Select the type of investment
    1. Interest on 1099-INT
    2. Dividends on 1099-DIV
    3. Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
    4. Capital Loss Carryover
    5. If this is your first time using this area there will be multiple questions
  5. The Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) has additional options.
    1. On the Let's import your tax info screen, select Enter a different way
    2. The screen OK, let's start with one investment type will come up
    3. It has 5 options to choose from.
      1. Interest
      2. Dividends
      3. Stocks & Mutual funds
      4. Cryptocurrency
      5. Other
    4. These should include the "property" that you sold.

         

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