I need to report a long-term capital gain on line 6 of my 1040, where in the TurboTax tool do I put the amount so it ends up there?
I don't have any forms for this capital gain, it was realized outside the US and they don't do US tax forms.
03185
3 Replies
Mike9241
Level 15
Apr 13, 2021 11:25:19 AM
form 1099-B wks type F - sales proceeds and cost basis not reported to IRS. for the name of reporting institution use whatever you want.
camcdevitt2
New Member
Apr 16, 2021 4:47:15 AM
I don't understand what "wks type F" means. I don't have a 1099 form for this capital gain. I don't know where in TurboTax you are talking about??? What question do I answer "yes" to in order to get to the right section?
ThomasM125
Expert Alumni
Apr 20, 2021 2:45:32 PM
You can follow these steps to enter an investment sale in TurboTax:
Income and expenses
Investment Income
Stocks, Mutual Funds, Bonds, Other
Indicate that you did not get a form 1099-R for the investment sale
Choose the I'll enter a summary for each sales category option
Enter the proceeds, cost basis and holding period of the sale