I've held the IAU Gold Trust ETN for many years and have no trouble entering into Turbotax Premier the small monthly sales that are reported on my 1099-B to cover the fund expenses. The gain on these transactions should be reported as a collectible sale. In the past, I had no trouble entering the investment type as collectible for these transactions when I enter them with the rest of my 1099-B transactions, but the option to select "collectible" as an investment type appears to be gone in 2024 Turbotax Premier. How do I enter these collectible transactions reported on my 1099-B?
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To enter you collectible sale in TurboTax Premier, first choose the Other investment type on the screen that says Ok, let's start with one investment type:
Later, you will see the option to choose "Collectible" on the screen that says Now, enter one sale for (name of investment), it will be an option next to the caption What type of investment did you sell?:
if you have access to the entries enter code C
Seems pretty clunky compared to previous years where I entered stocks, funds and collectibles for each of the many 1099-Bs I receive and get a summary of the total combined proceeds for each brokerage account. How can I do that now?
I wanted everything combined for each brokerage account so I tried importing my 1099-Bs. For one of them, I could go in and update the monthly IAU ETN sales to indicate they are collectibles, for another 1099-B from the same brokerage I could not because there was no option to select collectible for some reason. This is super frustrating. The functionality in this area for the 2024 version is a big step backwards from 2023 and prior years.
Intuit should fire its UI designers who designed the desktop 2024 UI.
The new interface is clunky and user unfriendly compared to previous years, at least in the part of entering income from devidends, interest, stock sale. Super frustrating!
Intuit, if you listen, please return the last year's interface. It was far from good, but at least not as bad as 2024.
Next yer, I may need to consider an alternative tax filling tool.
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