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edmfrustrated
Returning Member

1099-B gains/loss

So in researching this please help me in my thinking.  I am assuming that if the box 1e cost is less than 1d net proceeds that means that the gain/loss box amount is a gain.  Is that correct?  If it is then from my research, I need to put that gain in interest income and add the same amount onto the 1e cost amount  and put that in the box for 1099-b info.  Is that correct?  Thank you for your help as we are all working to get this done.

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4 Replies

1099-B gains/loss

@edmfrustrated 

NO.  gains shown on 1099-B is capital gain, not interest.

Enter the 1099-B.

TurboTax puts the results in the correct spot on your tax return.

edmfrustrated
Returning Member

1099-B gains/loss

I got that information to put it into the help box for gains.   I am not sure if it is a gain or a loss it does not say.  It is just an amount under the Gain/Loss box, (no number or letter for the box itself).  So I put in all the other information in 1a 1b 1c 1d net proceeds and 1e cost or basis, but where do I put the amount under the gain/loss box.  According to the help box I need to put it somewhere?   I have 3 of these, 1 short term, 2 long term. 

edmfrustrated
Returning Member

1099-B gains/loss

Thank you I was just doing what the turbo tax help box says to do with gains.   I have 3 boxes with $amounts.    Box 1d the proceeds   box 1e cost or other basis   and the Gains/loss box.   I know where to put 1d and 1e but the instructions say I have to do something with the $ amount in gains/loss box so where do I put that?  Appreciate your help.

edmfrustrated
Returning Member

1099-B gains/loss

Thank you for your time.  I know you all are busy.  I found my answer. 

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