Do I have to report my stocks that I sold, even though I made very little? If so, can I still file my taxes using turbotax for free? Or do I NEED to pay for the $80 form?

[Rainman12]

You must report 100% of Proceeds, regardless of Profit or Loss.

[mesquitebean]

I'll tell you about another free product below that CAN handle the stock sales, if you meet ONE of the qualifications.

[mesquitebean · Accepted solution]

Yes, you'll need to report the stock sales.  I assume you received a Form 1099-B from the broker.

TurboTax also has another free product called the TurboTax Free File Program.  It is free for both Federal and State--IF you meet just one of the qualifications.   It can handle all the usual forms without the limitations of regular Free Edition, and can report capital gains/losses from  your stock sales. 

You have to meet only ONE of these qualifications:

1) 2018 AGI of $34,000 or less

or

2) Eligible for EIC (earned income credit)

or

3)  Active duty military including Reservists/ National Guard with military W-2 and 2018 AGI of $66,000 or less

See this FAQ for more info:
https://ttlc.intuit.com/questions/1900583-what-is-turbotax-free-file-program

If desired, here's how to switch and start over in TurboTax Free File Program.
https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-free-file-program

NOTE:  If you switch to Free File Program by that method, and find out later you don't qualify,  you won't be able to go back to regular Online TurboTax in that same account.  So instead of switching that way, if you wish you could start a new account (User ID) at the Free File Program website, which would maintain the option of returning to the other Online TurboTax account, if necessary.

[bcason01-]

Great thank you! I clicked on the link and started my form, but it does not have anywhere to include my stock information as far as I can tell.

[mesquitebean]

Did you either use the formal switch as in the FAQ above, or did you start with a new User ID at the Free File website?

Are you sure you are not right back in regular Free Edition?   If you use the same User ID, it can put you right back in regular Online TurboTax unless you either use the switch method or a new User ID.

When your return is open, what edition is displayed up in the left corner.  Does it say "Free Edition"  or "TurboTax Free File Program?"

[bcason01-]

I clicked on the link you shared about how to switch to the program and followed the direction (clicking "click and start over," then signed out and clicked on the link they told me to click on). Then it took me to the create an account page (or sign in) and I signed in, and then it just took me to my to my return where all the required fields were "My info," "federal," "state," "review," and "file." I'm not sure if the stocks are included in any of those or not or if I even did the right thing to begin with.

[mesquitebean]

If you're in the right product, the screens will have a different "look" than the previous version you were using.  When your return is open, what edition is displayed up in the left corner.  Does it say "Free Edition"  or "TurboTax Free File Program?"

1099-B is reported under the Federal taxes section, and then you navigate to the proper income topic for Investment Income.

Or if you can find the search tool (probably upper right corner), click on Search, then enter the term 1099-B and click the magnifying glass icon.  Then choose "Jump to 1099-B", and it may take you right to the interview topic.

I don't use that edition, so I can't look at the screens of the Free File Program to talk you through it screen by screen.  I know someone who can, and I can summon them to this thread, but not in the middle of the night.

[bcason01-]

It says "TurboTax free file." I navigated to the "federal" section and even looked through the "Other tax situations" and could not find anything to do with the 1099-B form.
And yes no worries that is fine. Thank you for your help I appreciate it a lot.

[mesquitebean]

The steps might be like this if it is similar to other editions:

Federal taxes tab
Subtab "Income and Expenses"  (did you click on that to see the income topics)
And then scroll down to various income topics, one of which is "Investment Income."

I'll ask one of the SuperUsers familiar with that program to help you navigate.  He'll be around in about 5-6 hours or so and will hopefully leave you the steps here so you can enter the 1099-B.

@DoninGA   I believe you have used/viewed the Free File Program before.  When you are next in the forum, are you please able to provide the steps to help this user find the 1099-B section to enter his stock sales?    Thanks!

[DoninGA]

@epo39b You covered how to access the Investment section.  Either use the Search function with the key word 1099-b (it must be a lower case b) or directly - Federal>Wages and Income>Investment Income

[mesquitebean]

Thanks @ DoninGA  since I couldn't see the screens I didn't know if it looked similar to regular editions.

In my regular online product under Federal, the subtab says "Income and Expenses" rather than "Wages and Income", but the functionality is the same.

[DoninGA]

The Free File Program (aka Freedom) has the same type of user interface as the desktop editions.