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New Member
posted Jun 6, 2019 12:56:51 AM

Where do you enter Federal Tax withheld on a stock sale so it shows up as a credit?

I had Federal Tax withheld by my broker when I sold stock abd I entered the amount on the Capital Gains/loss worksheet but it does not give me credit for it on the Federal tax paid summary

0 8 5911
8 Replies
Level 13
Jun 6, 2019 12:56:53 AM

Did the broker really withhold taxes?  That is, you're seeing amounts in Boxes 4 and 16 of the 1099-B?

Level 7
Jun 6, 2019 12:56:54 AM

Its entered on the same screen as the sale under the Investment Income section under Stocks, Mutual Funds, Bonds, Other.  After entering the initial sales details, you need to click "I'll enter additional info on my own."  The next screen will give you the option to enter tax withheld.  If you had this information imported, then you may need to go back into it and click the edit option.

It also looks like you are using the TurboTax Deluxe desktop software - so another, possibly quicker, option would be to switch to Forms Mode and directly enter the withholding on your Form 1099-B worksheet.  It is box 10a Federal tax withheld.  See screenshots below.

New Member
Mar 7, 2020 5:19:36 AM

I do not see the "add additional information" on the screen????

Employee Tax Expert
Mar 9, 2020 3:36:28 PM

Go back into your program and select Personal.

Then Select Personal Income.

Select the blue box that says I'll choose what I work on.

Scroll down and select Update to the right of Stocks, Mutual Funds, Bonds, Other under the Investment Income section.

Select Edit to the right of your sale

Continue until you see your screen which should be similar to the screen below:

 

Select the blue box that says I'll enter additional information on my own.

You will then see the following screen:

You can enter your federal withholding and your state withholding in boxes 4 and 16 as indicated above.

 

 

 

 

New Member
Apr 4, 2020 2:13:06 AM

2020/04/04

This is now reported under:

1. Deduction &Credits

2. Estimates and other tax paid

3. Income tax paid

4. Other Income Taxes Paid in 2019

5. Withholding not already entered on a W-2 or 1099

New Member
Apr 18, 2022 7:23:40 PM

So - using the premier version - this is completely misleading.  The Box 4 entry for taxes withheld simply doesn't flow through to form 1040 (and it only appears on the 1099B workflow when you enter a single sale i.e. one sale at a time, not a summary sale.) 

 

What you have to do is go to forms, and then open the Tax Payments Worksheet, and manually enter the 1099B Federal Income Tax Withheld amount on line 17, "Form 1099-B."

 

That will do the trick!

New Member
Feb 7, 2024 12:08:20 PM

I also don't see that.  And in Forms view there's nowhere to enter Federal tax withheld.

Level 8
Feb 7, 2024 12:50:20 PM

‌ Go into forms mode. click on the Tax Payments schedule

Then under the section Taxes Withheld From, line 17 Form 1099B

under the federal column, manually enter the amount.

 

 

 

And will seamlessly flow through to Form 1040 pg. 2 Line 25b Federal tax withheld  1099B