TT2023: Can't enter sale of capital asset without 1099-B

You don't need a 1099-B to enter a sale.   In TurboTax Business, go to Federal Taxes >> Income >> Investment Income >> Capital gains or losses - Start.   

 

You will be asked if you have sold any capital assets this year, answer YES.  

 

When I do so, it asks me to enter the bank or brokerage that gave me the 1099-b.

 

It was a private transaction. Should I enter the seller's name?

 

You don't need it.   After you answer Yes to selling capital assets, the next screen asks about non-portfolio assets.   Answer Yes on that screen.   Then click on Add another single transaction.   Then answer NO to the 1099-B question.   

 

 

 

 

Now you can enter the details without a 1099-B.

I'm not seeing that. Do we have different TT versions? I have home & business version.

 

When I add a capital sale, I see these dialogs:

 

Yes, we are using different versions, but you are in the right place.  It doesn't matter what name you use if you're entering your sales manually because there's no broker/bank identification that's included in the income tax return.  All security sales show up with the same basic information of:

 

• Description of what was sold
• Date of sale
• Proceeds
• Date of acquisition
• Basis

The financial institution name is strictly for your use and utility.  So, if you facilitated trades through 4 different brokers and needed to edit one trade, you would be able to find the transaction easier.  

Thanks! I should have mentioned the tt version I am using.

Also, turbotax ought to clarify what to do in this case, like your versions does.