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Question

I sold Qualified Small Business Stock (QSBS) which is 100% exempt from taxes as per the Section 1202 exclusion. There was no 1099-B for this sale. Where do I report this?

Forum|Forum|6 years ago
February 2, 2020
1 reply
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TurboTax Self Employed Online

Please follow the steps in this LINK.

Hi ColeenD3,

Thank you for your response.

Unfortunately, the instructions at the link you referenced are no longer accurate. I am unable to reach this step:

“If you have additional info about this sale, you can enter it on your own, or we can guide you.”, Select Guide me step-by-step (See the attached screenshot below. Click to enlarge.)

or this step...

Click My sale involves one of these uncommon situations. (See the attached screenshot below. Click to enlarge.)

Instead I only get the screen that says...

Did or will you receive a 1099-B form or brokerage statement for these sales?

When I answer "No", I am taken to a screen asking me to tell Turbotax about the person or institution that brokered the sale and no matter what I enter, I am then taken to a screen that says:

"Now we’ll walk you through entering your sale details"

Nowhere is there a link for "My sale involves one of these uncommon situations".

This is very frustrating and is preventing me from completing my return. Please advise.

Thank you,

Andrei

After the screen, "Now we’ll walk you through entering your sale details" and you enter all the pertinent information, you will encounter the screen below to indicate your 1202 stock.