You will enter the 1099-B information as follows:
1. Go to Federal, then Wages and Income.
2. Select Investment Income. You will choose Stocks, Mutual Funds, Bonds, Other.
3. You will answer Yes, that you have a 1099-B.
4. The next page will let you Import your 1099-B from most firms or you can Type it in yourself. (If you import the information, review each entry to be sure it records correctly. Also, sometimes you may need to add the cost basis.)
5. If you choose to Type it in yourself, you will enter who issued the 1099-B.
6. The next page allows you to enter one sale at a time or use the summary of each type of sale.
Turbo Tax will calculate the capital gain/loss based on the data entered from the 1099-B and cost basis if you needed to add yourself. The capital gains/losses will appear on a Schedule D.
If you want to be sure these forms are in your return, you can navigate as follows:
- Go to My Account
- Select Tools
- Choose Delete a
Form (however, you will not delete any forms)
- Find Schedule D and 8949 Form
You can also review your 1040, Line 13. Follow these instructions to review your 1040:
1. Go to Tax Tools on the bottom left of your
screen.
2. Select Tools.
3. A big box
will open up in the middle of your screen, choose View Tax Summary.
4. Look to the
left hand side again, you can select Preview My
1040.
This will give you
the 1040 which is the basis of your returns.
[Edited: 03.14.2018 05:58 PM EST]
