How to report sales with no 1099-B form from overseas brokerage

Forum|Forum|1 year ago
February 25, 2025
1 reply
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I am using a desktop version of Turbotax Home & Business 2024.

I have been successfully using this software for many years, but I am running into a snag (I didn't have any problems last time, reporting income and/or losses from sales of stock on a foreign stock exchange) reporting major losses from 2 sales of stock in 2024. The brokerage in question does not issue any 1099-B.

How do I enter my losses?

I would value a recommendation on how to do this very much!

Best answer by DoninGA

That is because you clicked on the option for a 1099-B on the screen after Skip Import, labeled OK, let's start with one investment type. You should have selected Other as a posted originally.

On the next screen, select Other and continue

DoninGA

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

Using the desktop editions -

On the next screen click on Yes
On the next screen click on Skip import
On the next screen, select Other and continue

juham2013Author

Not sure I understand the response. This is a brokerage account, but the company is located overseas and does not issue a 1099-B. I will reach out to them to see if they do report the income or loss to the IRS directly though, to be sure.

Thank you!