If you received no paperwork on the transaction, you have two transactions to report in TurboTax Online.
First you enter the sale of the shares. Second, you enter the Federal income tax withholding.
Enter the sale of the shares as follows:
- Click on Federal down the left side of the screen.
- Click on Wages & Income down the left side of the screen.
- 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.
- You may have to click Add investments.
- At the screen Let's import your tax info, click Enter a different way.
- Click on Stock, Bonds, Mutual funds. Click 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 No. 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 Review this sale, enter information. Click Continue.
- You will select either Short term did not receive 1099-B form or Long term did not receive 1099-B form for Sales Section.
- Repeat as necessary by clicking Add another sales total. Click Continue.
In TurboTax Online, report Federal income tax withheld as follows:
- Down the left side of the screen, click on Deductions & Credits
- Scroll down to Estimates and Other Taxes Paid. Click the down arrow to the right.
- Click Start/Revisit to the right of Income Taxes Paid.
- Click Start/Revisit to the right of Other Income Taxes Paid in 2023.
- Click Start/Revisit to the right of Withholding not already entered on a W-2 or 1099.
- At the screen Do you have any tax withholding you haven't entered yet, select Yes.
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