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I sold stock I held in a private company last year. They did not provide me with a 1099-B. How do I report the capitol gains in Turbo Tax?

Paid $21,000 in 1996 for 3000 shares. Sold all 3000 for $54000 last year. Capital gains of $33000.
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I sold stock I held in a private company last year. They did not provide me with a 1099-B. How do I report the capitol gains in Turbo Tax?

You don't need a 1099-B to properly report the sale of a capital asset and the associated capital gain or loss.  If you look at Part II the actual Form 8949 where long term sales are reported

 

https://www.irs.gov/pub/irs-pdf/f8949.pdf

 

you can see that the only distinction between a sale reported on a 1099-B or a sale not reported on a 1099-B (your case) is that a sale not reported on a 1099-B will have "Box F" - "Long-term transactions not reported to you on Form 1099-B" checked.

 

In the desktop version when you start the "Stocks, Mutual Funds, Bonds, Other" interview one of the very first questions asked is "did you receive a 1099-B?"  If you tell TurboTax "No" here you're shunted into a slightly different interview that the regular "1099-B" interview, but the interview elicits the exact same information:

 

  • What was sold
  • When was it sold
  • Proceeds of sale
  • When it was bought
  • Cost basis

as you'd get off a 1099-B, and puts the sale into Part II of the Form 8949 with Box F checked.

 

I assume the online versions of TurboTax also can do this but because I don't use "online" TT I can't give you step by step directions.

 

 

 

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