It took me several tries, but I was finally able to figure out how to enter the QSB stock section 1202 exclusion in TurboTax (I'm using Premier 2023 on a Mac). I thought I would include the steps I took, in case it can help anyone else; as always, YMMV:
* If you've previously tried to enter the sale, I recommend deleting it and starting fresh
* Go to the Income tab, and visit the Investment Income (1099-B or broker statements) section
* Click "Add more sales"
* Select the "Stocks, Bonds, Mutual Funds" investment type and click Continue
* Click "Skip this import" on the next screen to choose your bank
* Enter the bank or brokerage, account number, and payer's EIN / TIN, and click Continue
* HERE'S THE CRITICAL STEP: on the screen that asks "Do these sales include any employee stock?", CLICK NO
* Click the button corresponding to the number of sales on your 1099-B; for me it was just 1 sale, so I clicked No (1-3)
* Click the button indicating whether the sale included any other types of investments; for me the answer was No
* Click the button indicating whether you bought every investment listed on your 1099-B; for me the answer was No
* Click Continue
* Click the button to enter your sales "One by one" and click Continue
* Click Continue again
* Enter your sale information, making sure to match what is on your 1099-B
* HERE'S ANOTHER CRITICAL STEP: the acquisition date must be more than 5 years prior to the sale date, or you will not qualify for the section 1202 exclusion
* Click Continue
* FINALLY, THE PAYOFF: on the screen that says "Let us know if any of these situations apply to this sale", click "This was a small business stock" and click Continue
* Adjust your cost basis, if needed, and click Continue
* On the screen that says "What kind of small business stock did you sell?", click "Qualified small business stock eligible for exclusion of gain (section 1202)" and click Continue
* Enter the adjustment amount, which equals the amount you are excluding from the capital gain calculation
For more information on how much gain you can exclude, see https://www.investopedia.com/terms/s/section-1202.asp
