Do I really have to upgrade to 'Premier' for 50 bu...
brian_fin
Level 1

Do I really have to upgrade to 'Premier' for 50 bucks to report a $23 short-term gain on the sale of a gifted stock?

T-Mobile gifted customers 1 share of their stock, and the service they let us use to 'monitor' performance went under. We were then required to pay a fee to the service they were transferring us to, or we had the option to sell.

I don't play stocks personally, so I took the small amount to buy out. Apparently, this small event puts me into a super complicated tax situation because of an extra form.

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MichaelL1
Level 15

Get your taxes done using TurboTax

It is income and I can show you how to enter it in line 21 to be reported as other income.

It will not get the more favorable capital tax treatment, however it will be reported and you may be paying a couple extra dollars in tax.

Below is answer on very similiar question I answered earlier.  Just add stock as narrative and enter the amount of $23.

https://ttlc.intuit.com/replies/6520091

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brian_fin
Level 1

Get your taxes done using TurboTax

So you're saying I can simply enter it as 'other income'? Ok, and with such a small amount favorable tax treatment would be negligible. Thanks!

Unfortunately I've also acquired an HSA this year, which is also apparently NOT supported in the free version. Bye, TurboTax.
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