1099b box 1a "type of asset" - none of the options seem right

Forum|Forum|2 years ago
March 24, 2024
1 reply
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Under the heading

Sales info (Boxes 1a - 1e)

What type of investment did you sell?

TurboTax lets me select one of { Stock | Crypto | Mutual | Bond | Options }

The investment that I sold was precious metals from a Precious Metals account.

What should I enter here? The actual 1099b box 1a just has the words Precious Metal

Best answer by rjs

On the screen that says "Tell us about the sales . . .," when it asked "Do these sales include any other types of investments," you should have answered Yes. Then you would get a longer list of types, including Collectible and Other.

rjsAnswer

Employee

cdbmkenirsk11Author

Employee

well that's pretty clever. I would rather call it "Other" than distort it by calling it "stock". Thanks.

ThomasM125

Since you did not sell stock, or cryptocurrency, you would choose the "Other" option.

When you enter the sales data, choose the Collectible option

Collectibles have a maximum federal capital gains tax rate of 28%, higher that the normal maximum capital gains rate of 20%, so it is important to get the sales category correct. You can learn more here: Investment in Collectibles

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