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ColeenD3
Expert Alumni

Collectible sale not showing as Collectible

Code C for collectibles is still unavailable at this time. While you would enter the sale in the Investment section, you would choose "Other" since you don't have a 1099-B. There is a drop-down box that allows you to select Collectibles.

 

Collectible sale not showing as Collectible

When will it be available?  I sold an ETF that need to be labeled collectible and I bought Premier what a pain.  Are you going to update the desktop version too?

Collectible sale not showing as Collectible

Did you fix the desktop verion too?

TeresaM
Expert Alumni

Collectible sale not showing as Collectible

Yes, the desktop version should also be corrected. Please be sure you have updated the TurboTax software and then step through the interview for the collectible again. Be sure the checkbox for Collectible is marked. This will be sure the code C will be present on Form 8949 and Schedule D and that a 28% Gain Worksheet is generated.

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Collectible sale not showing as Collectible

I am using TurboTax Deluxe and have the most recent updates installed and still not able to categorize my Investment Income as 'Collectable'.

 

PattiF
Expert Alumni

Collectible sale not showing as Collectible

The collectible box is available now in TurboTax Desktop for investment sales.

 

  • After you enter information about the sale: Description, Date sold, Date acquired, Sales proceeds, Cost or other basis, Click Continue
  • Any of these less common items for this sale? Put a check in the third line for Proceeds from collectibles

@svan403

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Collectible sale not showing as Collectible

I understand that your answer is based on entering one sale at a time. 

There is never an option to categorize my investment sales as 'Collectable' when I need to enter it as a summary for each sales category.

 

PattiF
Expert Alumni

Collectible sale not showing as Collectible

There is a way to enter a summary of collectible sales.

 

  • Click on I'll enter a summary for each sales category.
  • Enter Total proceeds, Total cost basis, and Holding period
  • Check the box below the Holding period for I have adjustments to enter for sales in this summary
  • Then Select Learn More after List all adjustment codes
  • Code C is for collectibles

 

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JT1970
New Member

Collectible sale not showing as Collectible

I am using Turbo Tax Premier for Tax Year 2022 and I do NOT see where I can list sales from a collectibles as collectibles.  

 

I have applied all updates, but cannot figure out how to do this on the software.  In years past it was always obvious on how to do.  

PattiF
Expert Alumni

Collectible sale not showing as Collectible

The collectible box is available now in TurboTax Desktop for investment sales.

 

  • After you enter information about the sale: Description, Date sold, Date acquired, Sales proceeds, Cost or other basis, Click Continue
  • Any of these less common items for this sale? Put a check in the third line for Proceeds from collectibles
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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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