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Yes, in essence you bought the new stock with the old stock, so you can think of it as a sale and purchase. You will need to report the transaction as an investment sale in TurboTax as follows:
You enter investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents if you want to enter your Form 1099-B manually. Choose Stock, Bonds, Mutual Funds as the type of investment you want to enter. You'll come to a screen where you can enter in your sales proceeds and cost basis.
Thanks for providing this information. Before I found this response, I must have spent hours trying to research how to do this.
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