You enter the income as a capital gain.
In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)
- Wages & Income
Scroll down to:
-Investment Income
-Stocks, mutual funds, Bonds, Other
Answer no, when asked if you got a 1099-B. then follow the interview. Show $0 as your cost basis. Use the date you received the money as the sale date, not the 2023 original sale date. If that changes your holding period from short to long term, use "various" as your acquisition date.
