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April 11, 2022
Question

How do I report stock sales? I don't get the question "Do you have stock sales?"

  • April 11, 2022
  • 1 reply
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Employee
April 11, 2022

If I remember correctly, the question is more likely "do you have investment income?"   I'll assume you have a Form 1099-B to report.   I'll give you a shortcut to get to that interview, and if you have trouble that shortcut way, I've also provided the long navigation method.

 

  • Open your return, and in the left menu column click on TAX TOOLS then TOOLS.
  • In the Tools window click the blue button TOPIC SEARCH.
  • In the topic line enter 1099-B without quotes.
  • Make the selection in the list and click GO.
  • You may arrive at a summary page called Your Investments and Savings.
  • Scroll down until you see a button "Add Investments"
  • Then the rest of the steps are the same as in the last half of the instructions below.

Or here's the manual navigation:

 

  • In the left menu column, click on the Federal tab
  • At the top of the next screen click on Wages & Income
  • The next screen shows your income item topics.   Scroll down the page to the category Investments and Savings, and click on  Start or Revisit or Review depending on your situation.
  • The next screen can vary, depending on whether you have entered anything in that topic previously like a 1099-INT or 1099-DIV, etc.  If you have entered things there previously, the screen should be called "Investments and Savings".  If so, scroll down that page below the displayed items and find a box that says Add Investments.  Click that.
    If you have not entered any 1099-INT/1099-DIV/1099-B previously, that screen may instead say "Time to kick off your investments!"  If it says that, click the blue button Okay!.
  • The next screen in either case will probably say "Relax. We got it."  Click CONTINUE to proceed.
  • On a screen that says "Let's import your tax info", that is only for importing.  You do not have to enter anything in that search line unless you want to import the 1099-B from your financial institution, which you can do only if the financial institution participates with TurboTax.
    If you don't want to import the information and want to enter your 1099-B manually, you can scroll way down that screen to the bottom right corner and click on ENTER A DIFFERENT WAY.
  • Next screen: "OK, let's start with one investment type" and shows 4-5 large boxes. Click on the box for Stocks, Bonds, Mutual Funds.    (see screen image below)
    The box will then highlight.  Then scroll down and click the Continue button in the bottom right corner of that screen.
    .

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  • The next screen will ask "Which bank or brokerage sent you a 1099-B for these sales?" and will have boxes for you to start entering the 1099-B info. 
  • Then continue answering the following screens to enter the 1099-B info.