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Level 2
April 11, 2026
Question

From 1099-B says to report on Form 8949

  • April 11, 2026
  • 1 reply
  • 78 views

I have a form 1099-B with Proceeds from Broker and Barter Exchange transactions, for Noncovered Securities. 

When I look at the details, on FORM 1099-B TOTALS Summary:

Long-Term Gain or (losses)- Report on Form 8949, Part II. 

I have values in Box E (basis not reported to the IRS)

 

Do I fill out in the 1099-B section or do I do it somewhere different?  I have the Turbotax Premier version on my laptop. 

It was one sale date, but has about 25-30 rows with details on group of stocks sold. 

 

 

    1 reply

    MaryK4
    Level 15
    April 11, 2026

    Because you have many transactions (25–30 rows), you can choose to enter a summary for each sales category instead of each individual trade. 

    1. Go to Federal Taxes > Wages & Income > Investment Income. Click Start or Update next to Stocks, Mutual Funds, Bonds, Other.
    2. After entering your brokerage name, when asked "How do you want to enter your sales?", select Sales section totals.
    3. Select Long-term basis not reported to IRS (noncovered). This corresponds to Box E on your 1099-B and will automatically place the data in Form 8949, Part II, Box E.
    4. Enter the total proceeds and the cost basis from your 1099-B summary.
      ***If you use the summary method, the IRS requires you to mail a paper copy of your 1099-B detailing the individual transactions. TurboTax will generate Form 8453 (a transmittal form) to accompany your 1099-B details if you e-file. If you want to enter each transaction individually, you do not have to mail the details.
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