Webull free stocks sold

The free stocks will reported on an IRS form 1099-MISC.  You may not have received the form because your transactions did not reach the minimum reporting limit of $600.

However, the IRS says that the income is still reportable.  Follow these steps to report the taxable income.

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Click Show more to the right of Less Common Income.
• To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
• To the right of Other reportable income, click the Start / Revisit button.
• At the screen Other Taxable Income, enter a description and an amount. 

The entry will be reported:

• on line 8z of Schedule 1 of the Federal 1040 tax return, and 
• on line 8 of the Federal 1040 tax return.

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