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Level 2

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

I was given stock of a small C corp back in 2014. They repurchased the stock from me in 2019. I do not have a 1099-B because a bank or brokerage was not involved. When Turbo Tax says, "Now we'll help you upload your 1099-B since the IRS requires a copy", I have the choice to upload a form or skip? Is it acceptable to skip this step?

In the sales section when entering the specifics of the sale, I chose the option "Long term did not receive 1099-B form".
7 Replies
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Level 15

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

If you did not receive a Form 1099-B then skip the step to import the form.

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Level 2

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

Ok, after I skip that part, I'm asked "How do you plan on submitting your 1099-B to the IRS?". The two options are:

  • I'm going to mail a paper copy of my 1099-B to the IRS
  • I'm planning to upload a PDF copy of my 1099-B later

I cannot skip this step. I have to choose one of these options. Do I just choose one and forget about it?

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Level 15

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?


@nicholasverduin wrote:

Ok, after I skip that part, I'm asked "How do you plan on submitting your 1099-B to the IRS?". The two options are:

  • I'm going to mail a paper copy of my 1099-B to the IRS
  • I'm planning to upload a PDF copy of my 1099-B later

I cannot skip this step. I have to choose one of these options. Do I just choose one and forget about it?


It may be better if you follow this procedure instead -

 

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Under Investment Income
  • On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the screen Did you sell stocks, mutual funds, bonds, or other investments in 2019? click Yes

On the screen OK, what type of investments did you sell? choose either option and Continue

On the screen Let's import your tax info click on I'll type it in myself

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Level 2

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

@DoninGA 
I followed your instructions, but I ended up at the same place I did before:

Screen Shot 2020-06-18 at 11.44.27 AM.pngScreen Shot 2020-06-18 at 11.47.34 AM.png

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I chose to "Add more sales, then:

Screen Shot 2020-06-18 at 11.50.41 AM.pngScreen Shot 2020-06-18 at 11.50.55 AM.pngScreen Shot 2020-06-18 at 11.51.01 AM.png

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Expert Alumni

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

To get past this screen just enter 'No Bank' in the bank or Brokerage box and continue.  

 

You don't need an account number

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New Member

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

I have the exact same scenario. I sold a QSB stock in a private company (through a tender offer) that did not involve any bank. I did not receive 1099-B. 

 

Even if I provide "No bank" to get past the screen above, I end up in the following screen to choose one.

 

  • I'm going to mail a paper copy of my 1099-B to the IRS
  • I'm planning to upload a PDF copy of my 1099-B later

 Is there a clean flow where I can specify I did not receive 1099-B?

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Level 3

I did not receive a 1099-B because a bank or brokerage was not involved in the sale of the stock. TT still asks me to upload my 1099-B for the IRS. What do I do?

Choose either option as it doesn't matter.