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February 28, 2025
Question

purchansed i bond in 2022 and sold it all on 2024. is that considered long term capital gain. if it does where do i enter that on my turbo tax

  • February 28, 2025
  • 1 reply
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    1 reply

    PatriciaV
    March 11, 2025

    When you sell a US Treasury I-Bond before its maturity date, you'll typically have a capital gain or loss. Your financial institution should have sent you Form 1099-B reporting the bond sale. TurboTax will help you determine if this was a long-term capital gain/loss.

     

    Here's where you enter or import your 1099-B in TurboTax:

     

    1. Open or continue your return.
    2. Navigate to the 1099-B section:
      • TurboTax Online/Mobile: Go to 1099-B.
      • TurboTax Desktop: Search for 1099-B and select the Jump to link.
    3. Follow the onscreen instructions. When you reach Let's import your tax info, choose how you want to enter your 1099-B:
      • To import your form, select your brokerage or financial institution from the list. Enter your sign-in credentials for your account, then select Get my form.
      • If you want to enter your 1099-B manually, select Enter a different way, then select your investment type on the next screen.
    4. On the following screens, answer the questions about your 1099-B. When you reach the Review your sales screen, the form you just entered should be listed.
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