Collectibles include works of art, rugs, antiques, metals (such as gold, silver, and platinum bullion), gems, stamps, coins, alcoholic beverages, and certain other tangible property. If you have a gain or loss on the sale of a collectible, you must create a Form 1099-B Proceeds From Broker and Barter Exchange Transactions in the TaxAct program and answer all questions appropriately so the TaxAct program can transfer the info to Schedule D Capital Gains and Losses.

To report gain or loss on the sale of a collectible on Form 1099-B in the TaxAct program:

1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
2. Click the Investment Income dropdown, click the Gain or loss on the sale of investments dropdown, then click Capital gain or loss (Form 1099-B).
3. Click + Add Form 1099-B to create a new copy of the form or click Edit to edit a form already created (desktop program: click Review instead of Edit).
4. On the screen titled Investment Sales - Transaction Details, click the checkbox next to 3. Proceeds are from collectibles.
5. Continue with the interview process to enter your information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.