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moosewilsn
Level 1

Capital Gains from private stock sale, no 1099B

received lump sum of a private stock sale in 2021 from a stock investment made in 1988. I received no 1099-B as the company accountant stated as "no tax documents are needed when there is a sale/purchase of privately held stock"

 

I received the income in the from of a bank transfer to my personal bank account.

 

I don't know the process of how to capture this income on my TurboTax, Self Employed software / tax return?

 

 

4 Replies
Mike9241
Level 15

Capital Gains from private stock sale, no 1099B

when you get to the capital gain selection in Turbotax and it asks if sold any investments in 2021 answer yes. when it asks if you got 1099-B answer no. check i'll enter one at a time. a drop-down should open where you can enter all the necessary info.

 

moosewilsn
Level 1

Capital Gains from private stock sale, no 1099B

THanks for your answer, however, I never saw the questions i was to see, nor did I ever get questioned as to not providing 1099-B. Maybe I was in the wrong section in trying to put in my lump sum income. Maybe it was Capital Gains? I dont think I ever saw that. I just tried to look for 1099-B part anywhere.

Maybe I'll just start over 

Mike9241
Level 15

Capital Gains from private stock sale, no 1099B

what version are you using and if using desktop are you using the step-by-step mode or forms mode? 

SteamTrain
Level 15

Capital Gains from private stock sale, no 1099B

I found the way in using desktop....but someone would have to walk you thru, step-by-step if you are using Online software

(I've been using this program for over 20 years, and the Online entry of yoru situation, seems all buggered up to me):

_____________________
For Desktop software, you would start here:

__________________________

 

1099B_Desktop.png

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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