Do I need to mail my 1099-B Statements?

31 replies
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There's a blurb at the bottom of the 1099-B Section stating I need to finish reporting my stock sales by mailing in a form. Is this mailed in when I e-file my tax return, or would I need to mail in my 1099-B forms separately?

TurboTax Premier Online

MR_EDAnswer

Level 5

No you don't mail 1099-B forms. The IRS receives copies of all 1099 Forms. You input the information that is on the form and the correct tax forms and schedules are sent to the IRS when you e-file.

MR_EDAnswer

Level 5

No you don't mail 1099-B forms. The IRS receives copies of all 1099 Forms. You input the information that is on the form and the correct tax forms and schedules are sent to the IRS when you e-file.

moppymcjones86

Level 2

Then why is it listed on the page that you have to mail it in to complete it?

phildonnia1

Level 5

You do not need to send in your 1099-B forms. The IRS has already received a copy from the broker. They will ask you for a copy if they need it.

Assuming you entered the information correctly, the 1099-B information should appear on Schedule D of your tax return. Depending on what information you have entered, you may also see the same information on Form 8949 submitted with your return.

You can check these to verify that the information on 1099-B was reported correctly.

Murray1949

Level 3

@phildonnia1in the situation discussed in this thread, if you use summary entries and have not individually entered each adjustment transaction and any with cost basis not reported to IRS, then you are required to provide a statement of those transactions. You do have the option of creating "the statement" yourself in whatever format you like so long as the necessary entries are provided. However, again, in the case of hundreds or thousands of transactions that may need to be individually entered you may in fact need to send the 1099-B as the supporting statement along with 8453. Again - Turbotax correctly instructs when 8453 must be mailed in and when you mail it you cannot send a note saying "Hey guys, you already have the 1099-B, go look at it" - you must attach the statement to it.