Reporting Foreign Stock Sales with No 1099-B

Forum|Forum|1 year ago
March 30, 2025
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I'm seeking guidance on how to report my husband’s foreign stock sales in TurboTax.

We did not receive a 1099-B form. In this foreign account, my husband sold shares from multiple stocks/funds.

What are the steps to take to file this information in TurboTax, including which forms are required and how to access them within the software?

Thank you!

TurboTax Basic Online

Mike9241

the same forms as if you got a 1099-B. in other words, in the investment section under sale of stocks. However, he has to convert his sales price and cost into US $$$$ for reporting. if he paid foreign INCOME taxes, he's entitled to a foreign tax credit.

It is more accurate to use the spot rate on the date of purchase to convert the basis and the spot rate on the date of sale to convert the sales proceeds. This is also the IRS's preferred method of doing conversions. The Internal Revenue Service has no official exchange rate.