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I am eligible for a QSBS section 1202 exclusion. How do I indicate that?

I followed instructions from a Tax Year 2018 answer, but Turbotax doesn't prompt me. (I'm filing for 2019.)

 

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1 Reply
DaveF1006
Expert Alumni

I am eligible for a QSBS section 1202 exclusion. How do I indicate that?

Please follow the instructions in this link, that outlines how you will enter your eligible 1202 exclusion.

 

  1. With your return open, go to federal>wages and income> Investment Income>Stocks, Mutual Funds, Bonds, Other>start
  2. On the Did you sell any investments? screen, answer Yes.
  3. If you land on the Summary of All Accounts screen instead, click Edit 
  4. If you have additional info about this sale, you can enter it on your own, or we can guide you.”, Select Guide me step-by-step
  5. Click My sale involves one of these uncommon situations. (See the attached screenshot below. Click to enlarge.)
  6. On Choose the type of investment you sold, choose "Stock" (See the attached screenshot below. Click to enlarge.)
  7. Review Some Basic Info About this Sale, Click Continue
  8. Click through several screens
  9. On "Do Any Special Situations Apply to This Sale?", select "Small business stock" click Continue  (See the attached screenshot below. Click to enlarge.)
  10. On "What Kind of Small Business Stock?" select the appropriate section 1202 type, click Continue
    Continue through the interview
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