I do not have a 1099 B form, and i do not think i need one

[MinhT1]

You only receive a form 1099-B if you have traded stocks through a stockbroker.

If you do not have a form 1099-B, you can just skip that section in TurboTax.

[jessicahc]

I do not have a 1099-B but Turbo Tax wants me to fill out information on the 1099-B worksheet to update it. Please help! Thanks!

[jessicahc]

How do I delete the 1099-B worksheet?  I did not receive a 1099-B from my broker and don't need one but Turbo Tax wants me to fill out this worksheet when it goes through the review process.  I received a 1099-R because I had a conversion from Traditional IRA to Roth IRA.  My broker said I'm not supposed to get a 1099-B for it ... just a 1099-R.  Please help! Thank you!

[JohnB5677]

There are two ways to clear entries from your return.

1. The first thing to try is to go into the section that has the form  (Less Common Income)

2. Income & Expenses

3. Scroll to Stocks, Mutual Funds, Bonds, Other
4. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
   • If you see Here's the info we have for these investment sales, select Add More Sales.
5. Answer Yes (this is so you can get in) to Did you get a 1099-B or brokerage statement for these sales?
6. You are going to type it yourself
7. Select the record you want to delete

8. On the right hand side there is a trash can.  Select the trash can and confirm you want to delete that entry.

 To Delete a form:

1. On the menu bar on the left that shows.
   1. My Info
   2. Federal
   3. State
   4. Review
   5. File
2. Select Tax Tools
3. On the drop down select Tools
4. On the Pop-Up menu select Delete a Form
5. This will give you all of the forms in your return
6. Scroll down to the form you want to delete
7. Select the Form 1099 B
8. Click on Delete.

This will complete the process.

Always use extreme caution when deleting from your tax return.  There could be unintended consequences.

[dkempson]

I have a similar, but different situation.  I am a dual citizen and have a brokerage account in Autralia.  I have to report my global income/loss to the US, but the brokerage does not provide US forms including 1099B.  So i have a record of the transactions, but no 1099.  I can enter the net proceeds, but turbotax wants me to include a 1099 ehich i don't have.  

[JotikaT2]

If you do not have a 1099-B, you should select that you will mail in the 1099-B.  TurboTax will then generate Form 8453 which is used to send the additional support.  

Instead of the 1099-B, send in the documentation you do have to support the amounts reported on your tax return instead.  Make sure to mark the box to the left of Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information).

How do I mail Form 8453?

@dkempson 

[lpingel09]

Hi. Instead of mailing can I just upload the document that supports the amounts reported?

[JamesG1]

It depends upon the version of TurboTax that you are using.

TurboTax Desktop will support the upload of an IRS form 1099-B but a paper copy of the form will be mailed to the IRS attached to an IRS form 8453.

TurboTax Online will support the upload of an IRS form 1099-B and a .PDF of the IRS form 1099-B may be uploaded .  No paper copy needs to be mailed to the IRS.  Follow these steps.   

1. Down the left side of the screen, click on Tax Home.        
2. Click on the down arrow to the right of Review.
3. Click on the blue band labeled Review.
4. Down the left side of the screen, click Federal.
5. Down the left side of the screen, click Wages & Income.
6. Click the down arrow to the right of Investments and Savings.
7. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
8. Click Add investments.
9. On the Let's import your tax info screen, select Enter a different way.
10. On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
11. At the screen Which bank or brokerage, enter the information.  Click Continue.
12. Do these sales include any employee stock, enter No.
13. Do you have more than three sales, enter Yes.
14. Do these sales include any other types of investments, enter No.
15. Did you buy every investment listed, enter Yes.  Continue.
16. On the screen Now, choose how to enter your sales, select Sales section totals.  Select Continue.
17. At the screen Look for your sales on your 1099-B, select Continue.
18. You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 1099-B, IRS form 8949 and / or Schedule D Capital Gains and Losses for the amounts and category. When finished, select Continue
19. You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
20. When completed, close the record and click Continue.
21.  At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document.  Select Continue.
22. When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.

@lpingel09 

[lpingel09]

Thanks James. Truly appreciated. I am filing online.

I am trying to report Forex futures trades and the broker specifically is saying they do not supply 1099Bs (IG.com). I follow your instructions and enter my sales, cost basis, and select the category that says short (or long, depending on which I am reporting) do not have 1099-B. At the end it still asks for me to upload a 1099.

I used my annual statement to find my sales and cost basis. The annual statement is the document I was considering uploading instead of the 1099 but it sounds like I should say I will mail it so Form 8453 is generated instead.

Will the generated 8453 form be e-filed with my return if I select that I will mail the 1099-B?

Is it necessary to mail my annual statement supporting document)? I have selected no 1099B in the prompt where I enter my sales and cost basis so I assume the IRS will see this?

Of course I could enter all transactions one by one but there are literally hundreds of transactions and this would take literal days to enter all the trades.

I truly appreciate your help as this is the last thing I am trying to navigate to file.

Logan

[lpingel09]

@JamesG1 

Sorry for the stringed response, too late to edit. I was incorrect I traded spot forex but elected to have them taxed as Section 1256, 60/40.