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Connected Robinhood account tells me to enter my exclusion percentage. On my forms it is 0.00 but it does not give me the option to input it. What should I do?

 
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MonikaK1
Expert Alumni

Connected Robinhood account tells me to enter my exclusion percentage. On my forms it is 0.00 but it does not give me the option to input it. What should I do?

If TurboTax is asking you to choose the applicable percentage for Section 1202 gains, it appears that you may have entered a Form 1099-DIV that showed Section 1202 gain in Box 2c. 

 

The exclusion percentage question comes up if you have an entry in Box 2c of Form 1099-DIV. If it's zero, delete the entry in Box 2c because that code section does not apply.

 

Internal Revenue Code section 1202 says a portion of the gain from the sale of Qualified Small Business Stock (QSBS) reported on 2c is excludable if the stock was held for more than 5 years.

 

See this help article and the IRS instructions for Form 1099-DIV for more information.

 

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