- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
@dpreas2017 I'm not sure I understand this last bit: "Upon completion for the 1099-B entry, TT requests that I upload a copy of the 1099-B for submission to the IRS." Didn't you get a 1099-B from the broker? You edit the cost on that 1099-B, so you shouldn't need to create a brand new one.
The broker's 1099-B should be coded B or E: revenue reported to the IRS, but cost not reported.
As for costs not matching, no need to be concerned. The broker can't figure out your correct cost because they don't have the K-1. If there's ever a question from the IRS, you'll have the records of what you paid and the K-1s with the adjustments.
**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
March 13, 2023
1:24 PM