To enter a 1099-B go to:
- The Federal Taxes tab (or Personal, if working in TurboTax Self-Employed/Home & Business),
- Then select Wages & Income,
- Then Investment Income,
- Then Stocks, Mutual Funds, Bonds, Other. Follow the prompts to enter the 1099-B information. This will require an upgrade to TurboTax Premier online, since a Schedule D will be prepared.
Match your entries with the box numbers. Under Sales you are going to choose either short term or long term. Short term is anything you owned for less than a year and long term is anything you owed for more than a year.
You will need to know the:
- Type of Sale: Most likely it is a Stock Sale
- Description: (Box 1a) Name of the Stock Sold
- Acquisition Date (Box 1b) (if it says various - click on the box that says something other than a date
- Sale Date (Box 1c)
- Sale Price (Box 1d)
- Cost Basis (Box 1e)
These should all be identified on the 1099-B
