The basic qway to enter the sale of stock, even without a tax form is:
- Open (continue) your return if it isn't already open.
- Income & Expenses
- Scroll to Stocks, Mutual Funds, Bonds, Other
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
- If you see Here's the info we have for these investment sales, select Add More Sales.
- Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
- At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself).
- Follow the instructions.
HOWEVER:
Private company shares held for at least five years that are considered qualified small-business stock (QSB) may be eligible for an income exclusion of up to $10 million or 10 times their cost basis.
For the stock to qualify, the company must not have gross assets valued at over $50 million when it issued you the shares.
For more details on both the rollover deferral and the 100% gain exclusion strategies for QSB sales, see a related article on myStockOptions.com, a website featuring expertise on tax and financial planning for all types of stock compensation.
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