These sales can be entered directly into Investment Sales without entering the 1099-K if you choose.
- Keep in mind an personal use items sold at a loss would not be allowed to be used to reduce other income (example clothing, or yard sale type items you paid a higher amount than selling price). The cost for these items would be the same as the selling price.
To enter your sale in TurboTax, follow these steps. Click this link for more information. Where do I enter Investment Sales?
- Open or continue your return.
- Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
- Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
- Answer Yes to the question Did you sell any of these investments in 2024? (or Okay! to Time to kickoff your investments!).
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
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