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Get your taxes done using TurboTax
You're correct, QSBS stock sales are excluded per section 1202. Normally it would be reported on form 1099-B, but if you didn't receive one, here is what to do:
- On the Federal tab, search for 1099-B and hten Jump to form 1099-B.
- Select "this is a small business stock"
- When it asks you if you want to adjust the cost basis check the top box that says "Help me figure out my cost basis"
- Go through steps.
- At the end, look for the "qualified small business 1202 exclusion" options
Here are screenshots:
March 2, 2021
10:09 AM