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Get your taxes done using TurboTax
You definitely want the sale recognized as a collectible because of the special higher capital gains tax rate for collectibles.
In TurboTax Online or TurboTax CD/Download use the following steps.
- Once you are in the tax return select Wages and Income > Scroll to Investment Income
- Select Stocks, Bonds, Mutual Funds, Other > Add more sales (you may need to delete your original entry)
- Select Other as the sales type > Continue > Enter the Description > Continue
- For the download version enter your sales information > Continue > Select the checkbox next to Proceeds from collectibles
- For the online version in the top dropdown selection choose
- Continue to enter your sale
- See the image below for both versions for assistance.
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March 7, 2021
9:33 AM