In TurboTax Online Premium, you may make an IRS form 1099-B entry using the one-by-one method. Follow these steps to make the entry.
Down the left side of the screen, click Federal.
Down...
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In TurboTax Online Premium, you may make an IRS form 1099-B entry using the one-by-one method. Follow these steps to make the entry.
Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Scroll down to Investments and Savings and click the down arrow to the right.
Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
Click Add investments.
At the screen Save time and connect your financial accounts, click Enter a different way.
At the screen How do you want to add your docs?, click Type it in myself.
At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds. Continue.
At the screen Which bank or brokerage is on your 1099-B, enter the information. Click Continue.
Do these sales include any employee stock, click No.
Do you have more than three sales on your 1099-B, click No.
Do these sales include any other types of investments, click No.
Did you buy every investment listed on your 1099-B, click Yes. Click Continue.
At the screen Now, choose how to enter your sales, select One by one. Click Continue.
At the screen Look for your sales on your 1099-B, click Continue.
At the screen Now enter one sales total on this 1099-B, enter information. Click Continue.
Repeat as necessary by clicking Add another sale. Click Continue.
Enter a worthless stock like any stock sale but with a sales price of zero and the word worthless in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.
See IRS Publication 550 Investment Income and Expenses, page 54.
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