1658814
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Inherited stock, TT shows gains but not sale as income

I inherited some stock when my mother passed away last year and sold shares for a $7,331 cash income.  The 1099B shows $349 gains but my total income in TT did not reflect the $7,331.  What do I do to get TurboTax to show this?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Inherited stock, TT shows gains but not sale as income


@ljaques7 wrote:

 What do I do to get TurboTax to show this?


The gross proceeds will appear on Form 8949 and Schedule D, but only the gain will appear on your 1040.

View solution in original post

3 Replies

Inherited stock, TT shows gains but not sale as income


@ljaques7 wrote:

 What do I do to get TurboTax to show this?


The gross proceeds will appear on Form 8949 and Schedule D, but only the gain will appear on your 1040.

Inherited stock, TT shows gains but not sale as income

You were right, thanks.  Another quick question:  How do I turn off the form 5695?  I found that I couldn't claim it because it wasn't gridtie installed.

Inherited stock, TT shows gains but not sale as income


@ljaques7 wrote:

Another quick question:  How do I turn off the form 5695?


If you cannot delete it in Step-by-Step Mode, enter Forms Mode and zero out all of the figures on the form (you will have to use the override feature). After doing so, the form should disappear from your list of forms or, if not, you will be able to delete it without the form being regenerated.

 

@ljaques7 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question