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Returning Member
posted Feb 2, 2023 8:37:14 AM

Hello! I was given a cow which I sold in 2022. How do I claim that income on my taxes?

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2 Replies
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.

Returning Member
Feb 2, 2023 9:05:57 AM

Thank you so much for the quick response and detailed instructions!