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How do I amend form 1040, Schedule D. I need to enter info from my form 1099-B (Gross proceeds and Cost or Other Basis)???

 
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Accepted Solutions
TomK
Expert Alumni

How do I amend form 1040, Schedule D. I need to enter info from my form 1099-B (Gross proceeds and Cost or Other Basis)???

You can not add the form/information to your original tax return once it has been filed AND accepted by the IRS.  If it gets rejected, however, just log back in to your tax return add the form and make any other necessary corrections. 

If accepted, you will need to file an amended return (1040X) to show the additional form/information. You should NOT try to amend your return until the original return has been fully processed and you have received your refund or your payment has cleared.

Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.

Amended returns have to be printed and filed by mail. 

If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. 

Three weeks after you mailed your amendment, you can start tracking its progress at the IRS Where's My Amended Return? site.  It can take the IRS up to 12 weeks or longer to process them.

Please read this TurboTax FAQ for instructions on How do I amend my 2017 TurboTax Online return?

To enter/edit/add 1099-B (Proceeds From Broker And Barter Transactions):

1. Open your return (or continue if open).

2. Type “1099b” (upper-case works too) in Search box (upper right-hand corner of the screen)

3. Click on “Jump to 1099b” link.

4. Answer screen interview prompts.  (On the next screen you can either import the information or enter it manually.)

[Edited 3/18/18 | 3:34pm]

View solution in original post

2 Replies
TomK
Expert Alumni

How do I amend form 1040, Schedule D. I need to enter info from my form 1099-B (Gross proceeds and Cost or Other Basis)???

You can not add the form/information to your original tax return once it has been filed AND accepted by the IRS.  If it gets rejected, however, just log back in to your tax return add the form and make any other necessary corrections. 

If accepted, you will need to file an amended return (1040X) to show the additional form/information. You should NOT try to amend your return until the original return has been fully processed and you have received your refund or your payment has cleared.

Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.

Amended returns have to be printed and filed by mail. 

If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. 

Three weeks after you mailed your amendment, you can start tracking its progress at the IRS Where's My Amended Return? site.  It can take the IRS up to 12 weeks or longer to process them.

Please read this TurboTax FAQ for instructions on How do I amend my 2017 TurboTax Online return?

To enter/edit/add 1099-B (Proceeds From Broker And Barter Transactions):

1. Open your return (or continue if open).

2. Type “1099b” (upper-case works too) in Search box (upper right-hand corner of the screen)

3. Click on “Jump to 1099b” link.

4. Answer screen interview prompts.  (On the next screen you can either import the information or enter it manually.)

[Edited 3/18/18 | 3:34pm]

TomK
Expert Alumni

How do I amend form 1040, Schedule D. I need to enter info from my form 1099-B (Gross proceeds and Cost or Other Basis)???

Please see updated answer
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