I recently sold my shares in a closely-held / privately-held Michigan C-Corp that I inherited from my father in 2016. We had an official business valuation done within a few months of his passing (to establish a cost basis). I recently sold all of my shares for slightly less than the 2016 business valuation. (So a small capital loss.) What forms if any should the C-Corp send me? If they don't send anything (it's a small family farm), how would I enter this in TurboTax?
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If you sold the shares through a broker you should receive a Form 1099-B from the broker.
You can report the sale of your shares without a Form 1099-B using the path Federal>>Income & Expenses>>Stocks, Mutual Funds, Bonds, Other.
When you add the sale, it will ask you if you did or will receive a Form 1099-B. When you answer "No", TurboTax will walk you through the entry of your sale.
If you sold the shares through a broker you should receive a Form 1099-B from the broker.
You can report the sale of your shares without a Form 1099-B using the path Federal>>Income & Expenses>>Stocks, Mutual Funds, Bonds, Other.
When you add the sale, it will ask you if you did or will receive a Form 1099-B. When you answer "No", TurboTax will walk you through the entry of your sale.
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