To report it in TurboTax Online: Go to Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) in the Federal Income section. Select Add investments if you land on the summary page. Select Enter a different way Select Stocks, Bonds, Mutual Funds (1099-B) Enter Brokerage Info Select No for Employee Stock Select No (1-3) for More than three sales Select Yes for Other types of investments Select Yes for Did you buy every investment? Then, One-by-one for How to enter Under Sales section title, select Long term did not receive 1099-B For Type of investment, select Stock (non-employee)On the screen Let us know if any of these situations apply to this sale, select This was a small business stock If you didn't buy other qualified stock, you may qualify to treat 50%, 75%, or 100% of the gain as tax-free under section 1202 if you held the stock longer than five years, depending on when the stock was acquired.

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yoobg2

Question

I have a stock sale that qualifies for the 100% exclusion on gains under Section 1202 (Qualified Small Business Stock) but TurboTax online is not recognizing that

Forum|Forum|1 year ago
March 26, 2025
1 reply
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No text available

MayaD

To report it in TurboTax Online:

Go to Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) in the Federal Income section.
Select Add investments if you land on the summary page.
Select Enter a different way
Select Stocks, Bonds, Mutual Funds (1099-B)
Enter Brokerage Info
Select No for Employee Stock
Select No (1-3) for More than three sales
Select Yes for Other types of investments
Select Yes for Did you buy every investment? Then, One-by-one for How to enter
Under Sales section title, select Long term did not receive 1099-B
For Type of investment, select Stock (non-employee)

On the screen Let us know if any of these situations apply to this sale, select This was a small business stock

If you didn't buy other qualified stock, you may qualify to treat 50%, 75%, or 100% of the gain as tax-free under section 1202 if you held the stock longer than five years, depending on when the stock was acquired.