If your capital gains are short term, they are still taxed at your ordinary income rate. Only gains form the sale of assets held more than one year are treated as long term capital gains.
This is where to enter 1099-B in TurboTax:
- Select Federal, then Wages & Income.
- Scroll down and look for Investments and Savings.
- Expand the section and click on Start or Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- Click +Add investments at the bottom of the summary.
- Follow the steps to import your 1099-B, or scroll to the bottom and select Enter a different way.
- Select Stocks, Bonds, Mutual Funds, click Continue.
- Fill in your information from the 1099-B
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