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Get your taxes done using TurboTax
It sounds like maybe your 1099-B form is for 1256 investments or straddles, since you say there are no dates on the form.
If your 1099-B has information in boxes 10 and 11, you need to report this information on Form 6781. Here is how to do that:
- Select Federal from the left side menu.
- Select Wages and Income toward the top left.
- Scroll down/ expand the list and look for Investment Income
- Find Contracts and Straddles and click on Start or Update to the right.
- Answer the first question Yes.
- Complete the rest of the section to report your gains or losses.
If you actually do have dates on your 1099-B, but just don't want to enter them individually, you can enter your information as summary transactions in TurboTax. This will allow you to enter a summary transaction for all of your sales in the same sales category, for example - A, Short term covered.
- Select Federal from the left side menu.
- Select Wages and Income toward the top left.
- Scroll down/ expand the list and look for Investment Income.
- Click Start to the right of Stocks, Bonds, Mutual Funds, Other.
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you land on Your investment sales summary, select Add more sales
- On the Let's import your tax info screen, select I'll type it myself
- Continue and select Sales section totals when prompted to choose how to enter your sales
- You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue
- You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
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March 2, 2022
6:50 AM