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Inherited stock, TT shows gains but not sale as income

Forum|Forum|5 years ago
July 6, 2020
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I inherited some stock when my mother passed away last year and sold shares for a $7,331 cash income. The 1099B shows $349 gains but my total income in TT did not reflect the $7,331. What do I do to get TurboTax to show this?

TurboTax Home & Biz Windows

Best answer by Anonymous_

@ljaques7 wrote:

What do I do to get TurboTax to show this?

The gross proceeds will appear on Form 8949 and Schedule D, but only the gain will appear on your 1040.

A

Anonymous_Answer

Employee

@ljaques7 wrote:

What do I do to get TurboTax to show this?

The gross proceeds will appear on Form 8949 and Schedule D, but only the gain will appear on your 1040.

L

ljaques7Author

You were right, thanks. Another quick question: How do I turn off the form 5695? I found that I couldn't claim it because it wasn't gridtie installed.

A

Anonymous_

Employee

@ljaques7 wrote:

Another quick question: How do I turn off the form 5695?

If you cannot delete it in Step-by-Step Mode, enter Forms Mode and zero out all of the figures on the form (you will have to use the override feature). After doing so, the form should disappear from your list of forms or, if not, you will be able to delete it without the form being regenerated.

@ljaques7