GeorgeM777
Expert Alumni

Get your taxes done using TurboTax

You can use either version of TurboTax, i.e., TurboTax online or TurboTax CD/download.  You are correct in that TurboTax cannot electronically import amounts in boxes, 8, 10, and 11 from a 1099-B, all of which relate to Section 1256 Contracts.  In either version of TurboTax, you can enter the information from boxes, 8, 10, and 11 through the step-by-step process.  Thus, if you were using TurboTax online, after selecting Wages & Income (left margin), scroll down the screen to Less Common Investments and Savings.  Select Contracts and Straddles, and then on the screens that follow, enter your information.   For example, on the screen Section 1256 Contracts, you will see fields that correspond directly with box 8 and box 11 on your 1099-B.  

 

In TurboTax CD/download, the process is similar.  From the Personal tab, select Personal Income, and then scroll down the screen to Investment Income and select Contracts and Straddles.  Thereafter, enter your information.   

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