I have TurboTax Premium but don't see where to enter sales of precious metals. I do NOT have a 1099-B from the coin shop.

[SabrinaD2]

To enter the sales of precious metals in TurboTax Premium without a 1099-B, follow these steps:

1. Open your return and go to the Federal section.
2. Navigate Income section.
3. Scroll down to Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto)
4. Click on + Add more sales.
5. Answer "No" to "Did you get a 1099-B or a brokerage statement for these sales?"
6. Select "Other" for the type of investment sold (e.g., gold, silver).
7. Enter the details of your sale, including the date acquired, date sold, sales proceeds, and cost basis

For more detailed guidance, you can refer to the TurboTax Community page

[rjr5]

Thank you, but after Step 4, there are only these choices... 1099-INT, 1099-DIV, 1099-B stocks, 1099-S. Not selecting any and clicking Continue says "Please make a selection"

[AnnetteB6 · Accepted solution]

Pick the choice labeled 'Other' with the Form 1099-S showing under it.  This will allow you to enter a sale of another type of asset, such as precious metals, without a Form 1099-B.

@rjr5 

[rjr5]

For anyone else needing this... yes, it's under 1099-S, and you need to choose "Collectible" because precious metals and bullion are not choices. I'm assuming TT knows to do these at the 28% tax rate.

I wasted an hour due to the poor interface. (If you don't have a 1099-B, there is no clear path. Also, in the 1099-B section, there's a popup menu "Long Term - I DON'T HAVE A 1099-B" but then after entering your sales/basis, TT later insists that you either mail or upload your 1099-B! Also, none of the posted methods work anymore. There's no button or check box about not having a 1099-B. Also, there is no Help topic about precious metals.)