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chriswate
New Member

Do I have to claim a 1099-B of only $24.63 in gains? Where do I enter this on my tax forms?

 
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AnnetteB6
Expert Alumni

Do I have to claim a 1099-B of only $24.63 in gains? Where do I enter this on my tax forms?

Yes, you need to enter the information about sale that generated the gain even though it is only about $25.  Without both the proceeds and the cost basis being reported to calculate the gain, the IRS would assume that the entire proceeds of the sale would be taxable and not just the $25 gain.

 

See the following TurboTax article for instructions:  Where do I enter a 1099-B?

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