The 1099-B form is used to report gain or loss from selling stocks, bonds, or other securities. Your gain or loss reported on form 1099-B can be imported directly from your bank or entered manually. To enter the gain/loss, follow the steps below:
- Login to Turbo Tax.
- Under Income and Expenses tab, .
- Jump to Investment Income, click show more and choose Stocks, Bonds, Mutual Funds, and other 1099-B, then click start.
- Click yes on "Did you sell Stocks, Bonds, Mutual Funds in 2020?", then click continue.
- Choose Stocks, Bonds, Mutual Funds" on "what type of investment?", click continue.
- The next screen, "Let's import your tax information", at the bottom of the screen, click "Change how i enter my form".
- The next screen, "Let's import it" or "Type it in myself".
- The screen, "Lets get the info from your 1099B", enter the Payer's information and the amount on the next screen..
