where do i identify stock sales as qualified small business stock (section 1202)?

[MelindaS1]

1. Tax Home

2, Federal

3, Income

4. Investments and savings 

5. (+) Add investments

6. Enter a different way

7. Type it in myself 

8. Stocks, Bonds, Mutual Funds

(You enter capital gains into the 1099-B screen, whether you received a form 1099-B or not.)

9. Enter Bank or Brokerage and Continue.

10. Select No for Do these sales include any employee stock?

11. Select No (1-3) for Do you have more than three sales on your 1099-B?

12. Select Yes for Do these sales include any other types of investments?

13. Select Yes for Did you buy every investment listed on your 1099-B?, then Continue.

14. Select One-by-one for Now, choose how to enter your sales and Continue.

15. For the Sales section drop-down choose Short-term or Long-term did not receive 1099-B.

16. For Type of investment, select Stock (non-employee).

17. Enter Description, Dates, Sale Proceeds, and Basis, then Continue.

18. Select This was a small business stock on the Let us know if any of these situations apply to this sale screen and Continue.

19. Select I don’t want to make any changes to my cost basis right now and Continue.

20. Select Qualified Small Business stock eligible for the exclusion of gain (section 1202) on the What kind of small business stock did you sell? screen and Continue.

See also: TurboTax - What is a qualified small business (QSB) stock?

[rwgander]

How do you do this in 2025?  Clicking on Stocks, etc. takes you to the download screen and does give the option of saying I'll enter it myself as it has in the past.

[DawnC]

Scroll down and click on Skip Import.  @rwgander    What is a qualified small business (QSB) stock and how do I enter it?

[rwgander]

Yes, I did that but it asks for the bank or brokerage name assuming I have a 1099.  Where do I say I don’t have a 1099.  In 2025 Premier on Mac.  

[DawnC]

You don't - just enter the information as if you do have a 1099-B.  You can enter any bank/brokerage name that helps you easily identify the transaction.   Only one of those fields is required and you can enter whatever you want there.  The next screen will allow you to enter the details.  @rwgander 

[rwgander]

Ok I’ll try that.  I assume it will ask me if this is a qualified small business sale after I enter it?

[MarilynG1]

• On the screen "Let us know if any of these situations apply to this sale," check This was a small business stock
• Continue, then choose Qualified Small Business stock (section 1202)

@rwgander