It will be reported as a sale of investment and TurboTax may or may not generate the 8949. Report the sale as an investment sale using the steps below. If you do not have a 1099-B, then select 'Other'. It will end up on Schedule D, which is where it belongs.
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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