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98firebird
New Member

I forgot to add an account (at loss) on my 1099B. I've already filed my Federal and state taxes. Can I just roll this over to next year?

 
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TomYoung
Level 13

I forgot to add an account (at loss) on my 1099B. I've already filed my Federal and state taxes. Can I just roll this over to next year?

You can not.  Trades must be reported in the year executed.

You probably should amend

How to Amend (Change or Correct) a Return You Already Filed
http://turbotax.intuit.com/support/iq/Amend-a-Return/How-to-Amend--Change-or-Correct--a-Return-You-A...

You can always not amend of course.  If the IRS never picks up on the "missing" 1099-B then you simply lose the deduction you're entitled to from a security loss.  If the IRS does pick up on the missing 1099-B then you can either agree to pay the tax, (if the basis isn't reported they'll tax you on the proceeds), or amend at that time.


Tom Young

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2 Replies
TomYoung
Level 13

I forgot to add an account (at loss) on my 1099B. I've already filed my Federal and state taxes. Can I just roll this over to next year?

You can not.  Trades must be reported in the year executed.

You probably should amend

How to Amend (Change or Correct) a Return You Already Filed
http://turbotax.intuit.com/support/iq/Amend-a-Return/How-to-Amend--Change-or-Correct--a-Return-You-A...

You can always not amend of course.  If the IRS never picks up on the "missing" 1099-B then you simply lose the deduction you're entitled to from a security loss.  If the IRS does pick up on the missing 1099-B then you can either agree to pay the tax, (if the basis isn't reported they'll tax you on the proceeds), or amend at that time.


Tom Young

98firebird
New Member

I forgot to add an account (at loss) on my 1099B. I've already filed my Federal and state taxes. Can I just roll this over to next year?

So I added the short term losses (1099-B) that I missed, but my Federal and State returns are not showing any deduction at all. I have already received my Federal and State refunds, if this matters - I had overpaid on both in 2016. I do have other 1099-Bs that WERE included in the original filing, and they did affect my returns. Am I missing something here?
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