Question

How do I report income received in 2020 from the sale of stock reported in 2018.

Forum|Forum|5 years ago
February 24, 2021
1 reply
0 views

The buyer (Company A) purchased all the stock in (Company B). By the purchase agreement a portion of the the proceeds were held in escrow for a specified time. The escrow amount was received in 2020.

D

DavidD66

You should report it the same way you would report any other investment. The sale date would be the date you received the proceeds. To do so in TurboTax, with your return open:

Type "Investment sales" in the search window and click Enter
Click on "Jump to Investment sales"
On the page with "Did you sell any investments in 2020?" Answer Yes
Answer No to "Did you get a 1099-B..."
Indicate "I'll enter one sale at a time"
Enter the details of the sale, and the interview will walk you through entering the details of the sale

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"