You enter capital gains (and losses) on Form 1040 Schedule D, and on Form 8949. TurboTax will create these necessary tax forms for you, after you enter your data.
Please also keep in mind that Schedule D is only available in TurboTax online Premier or Self-Employment. It is not available in online Deluxe or Free File edition. Schedule D is available in all versions of TurboTax desktop (download and install on your own computer). So, depending on which version of the TurboTax program you are using, you may have to upgrade.
After you upgrade, if necessary, it is quite simple to fill out your Schedule D information.
Please follow these steps to begin entering your information. Once you've entered your data, including dates of purchase and sale, cost and sales proceeds, and so forth, the program will calculate your capital losses (if any) and apply them to the rest of your tax return.
- In the TurboTax Find / Search box in your open TurboTax screen, enter the search term "stock sales"
then click the "Jump to" link in the search results.
- Select the Jump To link that should appear underneath
- From there, just follow the onscreen instructions to enter your stock sales (it will take several screens to accomplish)
- Please see the attached screen-capture image for a visual aid to these instructions; note that your screen may look different, and you may be asked to upgrade, as was discussed above
If you have further
questions, encounter any difficulties, or just want to speak with a live tax
expert who can walk you through your TurboTax entries (including the ability to
screen-share with your computer), please feel free to contact us. We
would be happy to help you (and as a paying customer, the call is free to
you). Here is a link where you can create a support ticket and reach us:
https://support.turbotax.intuit.com/contact/
Thank you for asking this important question.
