To report the sale of the mutual fund shares (gain or loss) with the TurboTax online editions you have to use Premier. The Premier edition supports IRS Form 1040, Schedule A, Schedule D, Form 8949 and Form 1116.
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below:
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Under Investment Income
- On Stocks, Mutual Funds, Bonds, Other, click the start or update button
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose Mutual Fund and continue with the section until it completes.
To enter Foreign taxes paid -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Estimates and Other Taxes Paid
- On Foreign Taxes, click on the start or update button
Or enter foreign taxes in the Search box located in the upper right of the online program screen. Click on Jump to foreign taxes
