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February 3, 2020
Question

Where do i post form 1099s

  • February 3, 2020
  • 1 reply
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The 1099s was for the sale of timber

1 reply

February 3, 2020

It looks like you are using the Deluxe version of TurboTax Online.  You have to upgrade to Premier in order to report your timber sales.  Timber sales are reported the same way as stocks, bonds, and other investments.  To enter in TurboTax Online, while working in your return,

  • Click on Search
  • Type 1099B in the search window
  • Click on "Jump to 1099b
  • Answer Yes to "Did you sell stocks, mutual funds, bonds, or other investments in 2019?"
  • Answer Yes to "Did or will you receive a 1099-B form or brokerage statement for these sales?"
  • Click on "I'll type it in myself"
  • Enter the name of whoever sent you the 1099-S >>> Click on Continue
  • On the page with "Tell us about your 1099-B sales for this ... account"  Click on No
  • Click the box for "A few Sales"
  • Answer Yes to "Do these sales include any other types of investments?"
  • Answer "Did you purchase all of these investments?"
  • Click on "Lets enter my sales one by one"
  • On the screen with "Now we'll walk you through entering the info on your ... 1099-B" Select "Other" as type of sale
  • Select "Box F" for sales category & give a description (Timber)
  •  Indicate "Something other than a date" and select "Various"
  • Enter the information on your 1099
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