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March 9, 2022
Question

Form 1099-B

  • March 9, 2022
  • 1 reply
  • 0 views

Hi,

 

I am filing with form 1099-B for the first time. This past year, I purchased GameStop, but I sold it soon after and made $49.12 of short-term capital gains. I am trying to file via TurboTax, and the whole process was super easy, but it won't let me add this short-term capital gains to the free version. It says that I have to purchase the $79 version in order to add this income to my return. I know that I'm 'supposed' to upgrade to the $79 version, but it sure seems wasteful when I literally only made $50, but now have to pay $79 in order to pay the $15 or $20 tax that this is going to charge me. Do I have other options? What would you recommend? Please help!

 

Thanks,

Daniel

    1 reply

    March 9, 2022

    You need TurboTax premiere to report Capital Gains earnings from a 1099-B.  There isn't a cheaper option using TurboTax, I'm afraid.

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