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New Member
posted Feb 17, 2020 10:51:41 AM

Do I input a 1099B that is $0?

I received a form from my stock broker that shows all $0s under the 1099-B, 1099-DIV, and 1099-MISC sections, although it does show a summary of gains and losses below (for information purposes). What do I report on my tax returns? Or do I have to input any information at all?

0 2 3951
2 Replies
Level 15
Feb 17, 2020 11:18:39 AM

IRS requires all transaction detail on form 8949 or on your own document (eg consolidated 1099B) showing the same detail and in the same manner as 8949.

 

If you choose to summarize, or your broker is giving you only a summary (this would be unusual)  you have to mail the transaction details to the IRS within three business days of IRS accepting your tax return.

Exception

: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.

As an active investor, be aware that your category Box A sales without adjustments do not require Form 8949, so there is no reason to import or key in  those transactions.
instead use the "enter a summary" option to put your numbers on Schedule D Line 1a.

Expert Alumni
Feb 17, 2020 11:22:24 AM

No, if the 1099B shows all zeros you do not have put the information into TurboTax.  However, if you have realized gains or losses, you must report that on your income tax return.