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Investors & landlords
Did you have sales? You have to report sales. You should get a 1099B for it. You need to enter the sales price and your cost so the IRS will know if you have a Gain or a Loss. You can deduct a net loss on your tax return up to 3,000 (1,500 for MFS). The rest of the loss you can carry over to next year. You will need to upgrade to Online Premium to enter sales.
Enter a 1099 B under
Federal Taxes on left or Personal (Home & Business)
Wages & Income
Then scroll down to Investments and Savings
Then Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) - click Start
Then click Add Investments at the bottom
Next screen hit Continue
March 22, 2024
9:50 AM