Get your taxes done using TurboTax

If you received cash for your outstanding stock, then you can just report it as you would a regular stock trade.  In TurboTax online, follow these steps:

1. Go to Income & Expenses
2. scroll down the page to Investment Income,
3. select Stocks, Cryptocurrency, Mutual Funds....,
4. select I'll type it myself
5. enter your information.

If you just received cash, (not cash for stock, just a cash payout), then you can report the cash payout as "other income."  To report this amount as other income, follow these steps:

1. go to Income & Expenses,
2. scroll down the page to the last item Less Common Income, select Miscellaneous income,
3. then from the list select Other reportable income. 
4. you will have to enter the amount you earned plus a short description. 

If you are using TurboTax Online, here are the steps to follow to preview your Form 1040 and see the "other income" amount on line 8:

       Open or continue your return by selecting Income & Expenses, or Deductions & Credits.

1. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
2. With the Tax Tools menu open;
3. Select Tools.
4. Next, select View Tax Summary in the pop-up.
5. Then Preview my 1040 in the left menu.
6. Select Back in the left margin to return to the page where you left off.

@tparekh