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Investors & landlords
No, TurboTax imports the information that is provided by the broker on the 1099-B, they don't "add" anything to it.
That being said, in nearly all cases where a broker charges commission, they add the commission to the basis of the stock, so it is already on your 1099-B.
If you have sales on a 1099-B and you are certain that you were charged commission and it was not included on your 1099-B, this is how to enter it in TurboTax:
- Select Federal from the left side menu.
- Select Wages & Income toward the top left.
- Scroll down the list and look for Investment Income.
- Find Stocks, Mutual Funds, Bonds, Other and click on Start or Update to the right.
- On the screen titled, Did you get a 1099-B or brokerage statement for these sales? answer Yes.
- On the screen titled, Tell us about this sale, answer I'll enter one sale at a time.
- Fill in your information about the sale.
- On the next screen Let us know if any of these situations apply to this sale, check the first box and enter the amount of the commission on the sale.
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March 26, 2023
5:13 AM