Received $298.25 from state treasury unclaimed property last year from the sale of 6 shares related to Mothers estate. Estate was closed in 2007. how to input on turbotax

Unsure of what type of investment it was?
No correct choice for "How did you receive this investment"?
Help with Cost or other basis, Box 1E is empty.

879

1 Best answer

Expert Alumni

Mar 4, 2020 10:10:47 AM

You will report this income on Form 1040 Schedule 1 Line 8 other income.

To enter your unclaimed property amount follow these steps.

With TurboTax open select Wages & Income
Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
On the next page, select Other reportable income
On the page, Other Taxable Income enter unclaimed property from state in the description.

This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS.

Expert Alumni

Mar 4, 2020 10:10:47 AM

You will report this income on Form 1040 Schedule 1 Line 8 other income.

To enter your unclaimed property amount follow these steps.

With TurboTax open select Wages & Income
Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
On the next page, select Other reportable income
On the page, Other Taxable Income enter unclaimed property from state in the description.

This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS.

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Received $298.25 from state treasury unclaimed property last year from the sale of 6 shares related to Mothers estate. Estate was closed in 2007. how to input on turbotax