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ldmitriy323-yaho
March 20, 2023
Question

Hi,would you please help me to find the place in TurboTax where I can enter the sale of 30% of shares I used to own in S-Corp? The sale happened at loss. Thank you!

  • March 20, 2023
  • 1 reply
  • 0 views
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1 reply

M
MinhT1
March 20, 2023

You will enter the sale of your S-Corp shares as a sale of investment.

 

You can enter the sale of your investment by following these steps:

  1. In TurboTax, open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income
  3. Scroll down to locate the section Investment and Savings and click on Show more
  4. Click Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other​​​​​​​
  5. Choose Other then click Continue
  6. On the next screen choose Stock (non-employee)
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Rick19744
Rick19744
Employee
March 20, 2023

@MinhT1 

Doesn't this information get input into TT when the S corporation shareholder indicates a final K-1 and asks about disposition?

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.
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