You can report the excess gain or loss as an invesment sale in TurboTax. Here are the steps:
Choose the Federal option on your left menu bar
- Choose Wages & Income
- Choose the Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) option
- Choose Add investments
- Choose the Stocks, Bonds, Mutual Funds option and follow the instruction
To report additional capital gain income, enter the gain as the sale amount and enter $0 for the cost basis. To report additional capital loss, leave the sale amount as $0 and enter the loss amount as the cost basis.
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