Return of Capital for Fractional shares or cash in lieu is missing from the drop down on "How did you receive this investment?" Is there a technical team to fix?

[Browniela]

I would post a screen shot if we had permissions.  

I received stock 'after' I left a company because the company split into two businesses.  I have now sold those shares and cannot list them as a stock split because they are not in a drop down list.  (Selection "Learn More" you can see this is an option.)  Wasted time trying to call first level Turbo Tax support to report this technical glitch.  Who can help?

[DianeW777]

If I understand your question you are asking how to enter a transaction where you received 'cash in lieu' of fractional shares.  This can be reported in your tax return by using the following information.

How to Report Cash in Lieu of Fractional Shares

1. The IRS considers cash for a fractional share to be money received as the result of a stock sale.
2. This transaction must be reported on IRS tax form Schedule D Capital Gains and Losses. 
3. The date of the sale (when cash was received) and the date of the original stock purchase is needed to complete the tax form.

Tax Basis Example:  Assume a shareholder has an aggregate $100 basis in 50 shares of ABC stock ($2 per share), and the fair market value of one share of ABC stock is $66.65. Following the ABC Merger, the shareholder should have an aggregate $100 basis in 64.1 shares of ABC stock (50 shares x 1.2820, or $1.56 per share), and should be treated as having sold 0.1 shares of ABC stock with a tax basis of $0.156 ($1.56 x 0.1 shares) for $6.67 ($66.65 per share fair market value x 0.1 fractional shares).

Once you have your information you will complete the entry in TurboTax using the following steps.

1. Open (continue) your return if it isn't already open.
2. In TurboTax, search (upper right) > Type 1099-B (include dash) Press enter > then select the Jump to link
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
   • If you see Here's the info we have for these investment sales, select Add More Sales.
4. Answer NO to Did you get a 1099-B or brokerage statement for these sales?  Or answer YES if you want to try to import it.
5. Follow the instructions.