To report the sale of the mutual fund shares (gain or loss) with the TurboTax online editions you have to use Premier. The Premier edition supports IRS Form 1040, Schedule A, Schedule D, Form 8949 and Form 1116.
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below:
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose Mutual Fund and continue with the section until it completes.
To enter Foreign taxes paid -
Or enter foreign taxes in the Search box located in the upper right of the online program screen. Click on Jump to foreign taxes
Income from the mutual fund sale is reported on Schedule D and Form 8949. Not on Schedule A
If you paid foreign taxes on the sale of the mutual funds you can either take a deduction on Schedule A for the taxes paid or use IRS Form 1116 to take a tax credit for the taxes paid.
To report the sale of the mutual fund shares (gain or loss) with the TurboTax online editions you have to use Premier. The Premier edition supports IRS Form 1040, Schedule A, Schedule D, Form 8949 and Form 1116.
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below:
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose Mutual Fund and continue with the section until it completes.
To enter Foreign taxes paid -
Or enter foreign taxes in the Search box located in the upper right of the online program screen. Click on Jump to foreign taxes