1099-B Proceeds from Broker and Barter Exchange Transactions reports stocks, commodities, debt instruments, options and many other financial instruments in addition to cryptocurrency.
In TurboTax Online follow these steps:
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Click the down arrow to the right of Investments and Savings.
- Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- At the screen Let's finish pulling in your investment income, select Add investments.
- At the screen Let's import your tax info, select Enter a different way.
- At the screen OK, let's start with one investment type. select the appropriate investment.
In TurboTax Desktop follow these steps:
- Across the top of the screen, select Federal Taxes.
- Across the top of the screen, select Wages & Income.
- Click I'll choose what I work on.
- Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- At the screen Let's finish pulling in your investment income, select Add investments.
- At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
- At the screen OK, let's start with one investment type. select the appropriate investment.
Be advised that TurboTax Deluxe will need to be upgraded to report an IRS 1099-B Proceeds from Broker and Barter Exchange Transactions.
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