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lumminan
New Member

Do we need to worry about capital gains if we did not receive a 1099-B for our account with Vanguard?

The list of account activity shows two funds with capital gains, but there is no 1099-B.
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3 Replies

Do we need to worry about capital gains if we did not receive a 1099-B for our account with Vanguard?

You only receive a 1099-B when you sell the stock and realize the gain or if you had taxable dividends that would be reported on a 1099-DIV.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Hal_Al
Level 15

Do we need to worry about capital gains if we did not receive a 1099-B for our account with Vanguard?

If you had taxable dividends, or Capital Gains Distributions (CGD) , in a mutual fund, it  will be reported on a 1099-DIV, not a 1099-B.  Dividends are in boxes 1a & 1b and CGD in box 2a.

 

It does need to be reported.  TurboTax will pick it up from the 1099-DIV and enter both in the right places. CGD and "qualified" dividends are both taxed at long term capital gains tax rates.

TomD8
Level 15

Do we need to worry about capital gains if we did not receive a 1099-B for our account with Vanguard?

You can download your tax forms from the Vanguard website.  Just login to your Vanguard account.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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