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sea0824
Returning Member

Turbotax changing total gain/loss from 1099-b

I had to manually enter the information from my 1099-b because turbotax will not upload the csv. I put in 79.07 for box 1d (proceeds) and 81.44 for box 1e (cost basis), for some reason turbotax says that is -2.37 for the gain/loss. But my 1099-B has -1.57 for the gain/loss. Why is this happening and why can't I change it to make it match my 1099-b?

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2 Replies
DawnC
Expert Alumni

Turbotax changing total gain/loss from 1099-b

According to your numbers, the loss would be -$2.37.  There is $.80 unaccounted for from your entry.    Is there anything in any other box of the 1099-B that represents the $.80?   There is a box you can check to add other 1099-B items.  In the example below, I used your numbers and assumed the difference was a wash sale disallowance.   

 

 

We round each sales proceed and cost basis before computing gains/losses.   This is an IRS requirement. Therefore, the IRS allows for these discrepancies.   If you'd like, you can match your numbers with your 1099-B exactly by entering them manually by following the directions below.

 

Enter my 1099-B manually using the sales category?

1. Get your brokerage statements for reference (which includes your 1099-B).

2. Go to Your investment sales summary

3. Delete the 1099-B you just imported.

4. Select Add more sales.

5. On the Let's import your tax info screen, select I'll type it myself.

6. As you're going through the process, find and select Enter sales section totals.

From there, we’ll guide you through finding these sales section totals on your form and entering them accurately.

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sea0824
Returning Member

Turbotax changing total gain/loss from 1099-b

I think i found it. The 1099-B is really hard to read.  Some of the sections are squished together, there is no separate 1a or 1b. It looks like they put all the info for 1a-1c together under 1c. 

But there is "D" under 2 transactions in box 1g. One of them is .07 and the other is .73. 

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