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Investors & landlords
You can delete the individual entries and just add a summary of each of the different sales categories. Your 1099-B should have those groupings. For example "Short-term covered" or "Long-term covered".
- Open or continue your return and search for stock sales.
- Select the Jump to link in the search results.
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?.
- If you land on Your investment sales summary, select Add more sales.
- On the OK, what type of investments did you sell? screen, select Stocks, Bonds, Mutual Funds, then Continue.
- When asked how you want to enter your 1099-B, select I'll type it myself.
- Answer the questions until you can select Enter sales section totals.
- You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.
If you have non-covered sales, then TurboTax will prompt you to upload a pdf copy of the transactions.
Entering the summary of sales categories will eliminate the problem with some individual transactions giving error messages.
All of the transactions have already been reported to the IRS, except for non-covered that are not reported to the IRS.
March 21, 2021
3:25 PM