turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Form 1099-B importing error

My Fidelity 1099-B properly displays values of cost basis, sales price and gain. On importing to TT  the gain  value is displayed as zero, which is not correct.  The imported cost basis and sale price are correct, though. I tried  to repeat the import and also to edit - - but no success. Anybody from TT to react to this software problem? 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Form 1099-B importing error

I would like to add that said transaction involved a tax free bond.  TT recognized on box 1f  an accrued  market discount, but displayed a zero gain value -- in contrast to the 1099-B form from Fidelity.  

KatrinaLO
Intuit Alumni

Form 1099-B importing error

You may need to contact customer service directly for assistance. Please see the following information here for more details. 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Form 1099-B importing error

It turned out that no correction was needed and the filing was accepted as is by the IRS. looking at my filed return I found that the gain was reported as interest and an adjustment was made by TT to reduce its tax liability to zero.   Confusing, but I guess this is how discounted municipal tax free bonds are being processed.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question