How do I enter collectible sales in turbotax 2024?

[ThunderingHeard]

Entering collectible sales was easy for many years. Now, for 2024, TurboTax seems to be insisting that there must be a 1099-B. But many collectible sales have no 1099-B. So how do I get them entered? All of the Intuit on-line help is for earlier years (when it was easy), nothing for 2024. Why do these things get more difficult instead of the same or less difficult? Any help is appreciated.

[AnnetteB6 · Accepted solution]

See the following TurboTax help article for some guidance to entering the sale of an investment, such as collectibles.  When you are going through the screens where it asks what kind of form you received, select the option with 1099-S for 'other' types of investment.  You will not need Form 1099-S, but that is the correct path to take in the program.  It also will not specifically ask for a Form 1099-B, but you may be asked to enter a broker name as if you did receive one.  You can enter 'none' and proceed.

Where do I enter investment sales?

[b618]

This isn't a good solution.

The sales (if you import 1099-B) are already in there as 1099-B sales.  TT 2023 (and before) had ability to just switch the type of sale from stock, etf, etc., to "collectible", and it would then calculate everything correctly.

TT 2024 blew it and removed the ability to select "collectible".  Now you have to either remove the entries from 1099-B step-by-step area and manually re-enter them all (an unworkable pain in the ass).  Or I guess you override box f and enter a "C" in it in form 8949?  I don't know if TT 2024 handles that correctly.  Because it complains about that being an "error" in the final check of your return if you manually put in the "C".

Whoever did 2024 made stupid decisions. It has a clunky interface in the 1099b section (asking a several questions when you enter it, making it a pain to just go back into it), and it missing this critical need of "collectible" for anyone who trades etf's that are collectibles.  Makes TT 2024 unworkable.

Bad job, TT.