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I had $20,000 withdrawn from my stocks and transferred to my checking account so I could pay for new prosthetic teeth. How do I show that on my taxes?

The money was from my Ameriprise Brokerage Account. Where do I put that on the tax form for income.
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2 Replies
MarilynG1
Expert Alumni

I had $20,000 withdrawn from my stocks and transferred to my checking account so I could pay for new prosthetic teeth. How do I show that on my taxes?

Did you get a Form 1099-B to report the sale of stock?  If so, report that under Wages & Income > Investment Income.

 

You can report your dental expense under Medical Expenses in the Deductions & Credits section.

 

@garrycrnamelton 

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I had $20,000 withdrawn from my stocks and transferred to my checking account so I could pay for new prosthetic teeth. How do I show that on my taxes?

To enter an investment sale -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button


Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales


Using the online editions -

On the screen Did you have investment income in 2024? click on Yes

On the screen Let's import your tax info click on Enter a different way

On the screen OK, let's start with one investment type, select the Investment Type and Continue

On the screen Tell us more about this sale enter a Name and Continue

On the following screen select the type of investment sale on the dropdown What type of investment did you sell?

Continue with this section until it completes.

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