I have followed the steps mentioned in TurboTax Online and was able to generate the 1202 exclusion. If you check the box "small business stock" it asks "what kind". If you select 1202 eligible for exclusion, it asks if you previously sold small business stock from the same corporation and need to adjust the gain eligible for exclusion. It didn't specifically ask the number of years but it gets that from the acquisition and sale dates.
You can send us a “diagnostic” file that has your “numbers” but not your personal information.
If you would like to do this, here are the instructions for TurboTax Online users:
Go to the black panel on the left side of your program and select Tax Tools.
- Then select Tools below Tax Tools.
- A window will pop up which says Tools Center.
- On this screen, select Share my file with Agent.
- You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number.
- Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.
We will then be able to see what you are seeing and we can determine what is going on in your return and provide a resolution.
Here are the instructions for TurboTax Desktop users:
- From the black bar at the top of your screen, select Online
- Click Send Tax File to Agent
- Click Send on the message that pops up
- TurboTax will create a "sanitized" copy of your return information with no personal info
- Post the 7-digit token number here in this thread
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