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February 25, 2023
Question

Turbotax is saying that I sold stocks, but I did not and I'm not sure how to fix this?

  • February 25, 2023
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1 reply

SantinoD
February 25, 2023

Some taxpayers can get confused with the terminology of stock sales. There are different ways to describe a taxable event when it comes to stocks. It could also be described as trading a stock. Trading and selling are the same thing when it comes to stock transactions. When you trade a stock, that is a taxable event, even though you never received the money/cash. Essentially you are selling a stock to purchase another (trade), this is considered a sale and must be reported on your taxes as investment income.

 

If you imported your 1099-B or 1099-CONSOLIDATED FORM, TurboTax will determine if you have sold stock to report. 

 

If you did not import, it could be another issue like answering a question in the software that relates to stock sales. I advise starting from the  "My info" section and going through the questions again.