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February 15, 2025
Question

Form 8949 for sale of partial share of stock

  • February 15, 2025
  • 1 reply
  • 0 views

My brokerage account, which will not download into Turbo Tax, indicates a sale of a partial share of stock from a stock split last April. They indicate the information of the sale amount was sent to the IRS and provide line numbers and amounts for form 8949. And yet there is no way to access or update a form 8949.

    1 reply

    February 15, 2025

    Simply enter a sale of stock and it will populate on Form 8949 automatically if needed.  TurboTax will carry the information where it is required.

     

    Open your TurboTax Online return:

    1. Select Tax Home on the left panel > Select any Income category or Pick up where you left off
    2. Select Tax Tools > Tools > Select Topic Search > Type 1099b  > Select GO (should be landed on 1099b)
    3. Select Add Investments if your 1099-B is not yet present in your list
    4. Continue to follow the prompts to enter the information yourself

    Open your return in TurboTax Desktop:

    1. Select Personal Income > Scroll to Investment Income > Select Stocks Cryptocurrency, Mutual Funds, Bonds, Other
    2. Start or Update > Continue to follow the prompts to enter your 1099-B

    The sale of any investment is required to be included with your tax return, gain or loss.  Information from the link below may be helpful

    The cost basis for this partial share of stock will be zero, they are simply paying you for the fractional split.  You full cost basis will be used for all of the stock you own after the split.

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