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Level 2
posted Mar 1, 2025 9:25:10 AM

how do i enter proceeds from broker and barter exchange transactions. amount is $2.17 but there is a loss of $2.32

0 1 540
1 Best answer
Expert Alumni
Mar 3, 2025 7:49:36 AM

In TurboTax Premium Online, enter the form manually by following these steps:

 

  1. Down the left side of the screen, click Federal.
  2. Down the left side of the screen, click Wages & Income.
  3. Click the down arrow to the right of Investments and Savings.
  4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
  5. Click Add investments.
  6. On the Let's import your tax info screen, select Enter a different way.
  7. On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
  8. At the screen Which bank or brokerage, enter the information.  Click Continue.
  9. Do these sales include any employee stock, enter No.
  10. Do you have more than three sales, enter No.
  11. Do these sales include any other types of investments, enter No.
  12. Did you buy every investment listed, enter Yes.  Continue.
  13. On the screen Now, choose how to enter your sales, select One by One.  Select Continue.
  14. At the screen Look for your sales on your 1099-B, select Continue.
  15. Enter the IRS form 1099-B information.

You may round the entries as directed by the IRS.

 

IRS Publication 17, page 14 states:

 

Rounding off dollars

 

You can round off cents to whole dollars on your return and schedules. If you do round to whole dollars, you must round all amounts.

 

Make sure to retain paperwork should a tax authority contact you at a later time.

1 Replies
Expert Alumni
Mar 3, 2025 7:49:36 AM

In TurboTax Premium Online, enter the form manually by following these steps:

 

  1. Down the left side of the screen, click Federal.
  2. Down the left side of the screen, click Wages & Income.
  3. Click the down arrow to the right of Investments and Savings.
  4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
  5. Click Add investments.
  6. On the Let's import your tax info screen, select Enter a different way.
  7. On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
  8. At the screen Which bank or brokerage, enter the information.  Click Continue.
  9. Do these sales include any employee stock, enter No.
  10. Do you have more than three sales, enter No.
  11. Do these sales include any other types of investments, enter No.
  12. Did you buy every investment listed, enter Yes.  Continue.
  13. On the screen Now, choose how to enter your sales, select One by One.  Select Continue.
  14. At the screen Look for your sales on your 1099-B, select Continue.
  15. Enter the IRS form 1099-B information.

You may round the entries as directed by the IRS.

 

IRS Publication 17, page 14 states:

 

Rounding off dollars

 

You can round off cents to whole dollars on your return and schedules. If you do round to whole dollars, you must round all amounts.

 

Make sure to retain paperwork should a tax authority contact you at a later time.