rjs
Level 15
Level 15

Get your taxes done using TurboTax

The printed or PDF consolidated statement from a brokerage typically has a section for each possible type of 1099, whether or not there is any activity of that type. So the statement will have a 1099-INT section, a 1099-DIV section, a 1099-MISC section, and a 1099-B section. If there is nothing to report in a particular section, the section will be in the statement but it will contain all zeros. A section with all zeros should not be entered in your tax return and should not be imported.


There is a very slight possibility that, in the 1099-B section you could have gains and losses that happen to net out to zero gain or loss. If there are any transactions in the 1099-B section, they have to be reported on your tax return, even if the net bottom line is zero. I don't know if you would be able to see in the import summary page that there are transactions that have to be reported. To play safe, take a look at the printed or PDF consolidated statement to decide what does or does not have to be imported.

 

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