I have a 1099-B from Morgan Stanley (Shareworks). It has two identical lines per sale, I made three sales last year so there are 6 lines on the 1099. How do I enter them?

[mcbridebr]

Not sure if I need to enter each line as it appears or one line for each set of two.  Each set has identical proceeds and cost basis.  Each line in the set is also the exact sale amount so it seems wrong to enter both lines.

[MarilynG1 · Accepted solution]

If you sold shares from different lots of the same stock, there could be two lines reporting the same Cost Basis and Proceeds.  If you sold 60 shares on one sale, for instance, and one line reports 30 shares sold and the duplicate line reports 30 shares sold, this could be the case.

Otherwise, I would suggest calling the broker for more information on your 1099-B.

Here's more info if you Imported your 1099-B. 

@mcbridebr 

[mcbridebr]

@MarilynG1 they are indeed reporting identical shares, cost, and proceeds per set of two.  So for example (details obfuscated for privacy)


Sale 1: (Dates on both are the date of the sale)
Account Number: 00001.       Number of shares 5.       Cost Basis:   $100.       Proceeds: $150
Account Number: 00002.       Number of shares 5.       Cost Basis:   $100.       Proceeds: $150

In this case, my total proceeds was $150 not $300 so that is why I am confused on how to enter these into turbo tax.

[GeorgeM777]

To follow-up on the post from @MarilynG1, if the amount realized has also been doubled, then as @MarilynG1 suggests, getting an amended 1099-B, or perhaps a Supplement to the original 1099-B, may be your only option.  

@mcbridebr 

[mcbridebr]

Thanks for bringing that up.  I looked back at my past transaction docs and looks like the two lines added up equal the total proceeds from said sale.  The amount of shares also add up correctly.  So I think I am ok to enter each line as it reads on the 1099-B I received.