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Do I add the items on the 1099-b in box 1d? I have an item labeled total proceeds & one labeled total cost or other basis.

 
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DDollar
Expert Alumni

Do I add the items on the 1099-b in box 1d? I have an item labeled total proceeds & one labeled total cost or other basis.

No, you do not add them together.   Total Proceeds is the amount you received when the investment was sold.  The Total Cost or Other Basis is the amount that was paid for the investment.  The gain or loss on the sale is the difference between the two amounts.  Follow the step by step instructions in the program interview and TurboTax will guide you through entering your 1099-B.

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DDollar
Expert Alumni

Do I add the items on the 1099-b in box 1d? I have an item labeled total proceeds & one labeled total cost or other basis.

No, you do not add them together.   Total Proceeds is the amount you received when the investment was sold.  The Total Cost or Other Basis is the amount that was paid for the investment.  The gain or loss on the sale is the difference between the two amounts.  Follow the step by step instructions in the program interview and TurboTax will guide you through entering your 1099-B.

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