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February 6, 2021
Question

In 2020, I exercised my right to purchase company stock in my home country, then sold it right away. After the sale, I transferred the sale back to my bank. What now?

  • February 6, 2021
  • 1 reply
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back to my bank account in US. I did not use any US brokerage or bank so I didn't receive any form. How do I report the earning?

1 reply

JohnB5677
February 9, 2021

If you sold stock in a foreign country you will have to report it in the investment section of TurboTax.

 

Your first step is to convert everything to $US (US Dollars).

 

Sunday, January 31, 2021

11:26 AM

Here's where you enter or import your 1099-B in TurboTax:

  1. Income & Expenses
  2. Scroll to Stocks, Mutual Funds, Bonds, Other
  3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
    • If you see Here's the info we have for these investment sales, select Add More Sales.
  4. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
  5. At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself).
  6. Follow the instructions.

 

After entering or importing your 1099 B be sure to review the detail.  From time to time your broker does not know what your basis was (amount you paid for the investment), and it will be blank.  This will result in owing excess taxes.  You can be manually enter a correction.

 

From   Enter a 1099-B

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