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jmcevoy23
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I sold a fine art collectible in 2022 for $680000. How to I report the gain in turbotax deluxe

 
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I sold a fine art collectible in 2022 for $680000. How to I report the gain in turbotax deluxe

To enter an investment sale -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B), click the start or update button


Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

I sold a fine art collectible in 2022 for $680000. How to I report the gain in turbotax deluxe

If you are using the TurboTax online web-based editions you will need to upgrade to the Premier online edition to report the investment sale.  The Deluxe online edition does not support entries of investment sales.

I sold a fine art collectible in 2022 for $680000. How to I report the gain in turbotax deluxe

you must also use code C so the proper tax is computed on the gain. 

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