I sold stock last year and deposited 270.70 in my checking account - I do not have a 1099-B from ETrade, should I? Or should I skip this part of my taxes?
I sold stock last year and deposited 270.70 in my checking account - I do not have a 1099-B from ETrade, should I? Or should I skip this part of my taxes?
You should have received a form 1099-B reporting the invetment sale. If you had a gain on the sale, it may be taxable so you should enter the sale on your tax return. You can deduct the cost of the investment from the sales proceeds to determine your gain. Depending on how long you held the security and your income, it may not be taxable.
You can enter an investment sale in TurboTax by following these steps:
Choose the Federal option on your left menu bar
Choose Wages & Income
Choose the Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) option
Choose the Stocks, Bonds, Mutual Funds option
Indicate that you don't have a form 1099-B and enter your investment sale information
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