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You use the "Stocks, Mutual Funds, Bonds, Other" interview. You tell TurboTax you did not receive a 1099-B. You can use "everything else" as what you sold. Type in an appropriate description, (e.g., Cash Distributions in Excess of Partnership Basis") and a "Date sold" of whatever distribution drove your basis "negative". The "proceeds" would be the amount of "negative basis."
Your basis would be $0 meaning the entire amount of "proceeds/negative basis" would be taxable. Probably the correct date to use for your purchase or acquisition would be the date of your initial contribution, but any date that made the holding "long term" would work, mechanically.
This will be recorded as a Box F sale on Form 8949.
Tom Young
You use the "Stocks, Mutual Funds, Bonds, Other" interview. You tell TurboTax you did not receive a 1099-B. You can use "everything else" as what you sold. Type in an appropriate description, (e.g., Cash Distributions in Excess of Partnership Basis") and a "Date sold" of whatever distribution drove your basis "negative". The "proceeds" would be the amount of "negative basis."
Your basis would be $0 meaning the entire amount of "proceeds/negative basis" would be taxable. Probably the correct date to use for your purchase or acquisition would be the date of your initial contribution, but any date that made the holding "long term" would work, mechanically.
This will be recorded as a Box F sale on Form 8949.
Tom Young
where to enter long-term Capital gain on individual tax return
You can enter your long term capital gain using TurboTax Self-Employed (or Home & Business) by going to Federal, Income and Expense, Investment Income, Stocks, Mutual Funds, Bonds, Other (1099-B):
You will then be able to follow the interview prompts and you will be able to indicate long term capital gain. Your transaction will be reported on Form 8949, Part II, Code F and Schedule D, Long Term Capital Gains.
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