DMarkM1
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Investors & landlords

Yes, that is correct.  Both the 1099-B and the 1099-S are information returns actually filed by the brokers.  You are entering specific information from your copy of these forms to populate a Schedule D for gains/losses on investment sales.  

 

Since the 1099-S information is a subset of 1099-B information, the entry area/labels are the same (1099-B).  When you select "Other Investment (1099-S)" some of the entries required for a 1099-B are eliminated based on a form 1099-S.  

 

Neither of these forms are attached to your tax returns; only the required information from them for the Schedule D is used. 

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