The best way to report the transaction is as a capital transaction in the Federal Section of TurboTax, Wages & Income, Stocks, Mutual Funds, Bonds, Other.
When it asks if you received a 1099-B the answer is no and on the page with the options of what type of sale it is, choose Everything Else.
Report the information for the sale and delete the 1099-Misc from so that it is not reporting on Schedule 1 as Other Income.
How to delete a form in TurboTax Online
- Open or continue your return in TurboTax.
- In the left menu, select Tax Tools and then Tools.
- In the pop-up window Tool Center, choose Delete a form.
- Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
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