Hello! I was given a cow which I sold in 2022. How do I claim that income on my taxes?
02348
2 Replies
Vanessa A
Expert Alumni
Feb 2, 2023 8:53:01 AM
You would enter the sale of the cow by clicking the following:
Federal
Income
Show More next to Investment Income
Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Select Other
Continue through and select Other again for the type of investment
Answer that you received it as a gift
You will need to enter the selling price, dates and the cost basis of the person who gave it to you. So if they paid $500 for the cow, you would enter $500.
bethany8259
Returning Member
Feb 2, 2023 9:05:57 AM
Thank you so much for the quick response and detailed instructions!