I won't receive a form 1099-B. I dabbled with stocks and only netted about $50. TurboTax insists I need to submit the form to the IRS. How do I resolve this?

Generally, capital gains are taxed according to how long you've held a particular asset – known as the holding period. Profits you make from selling assets you’ve held for a year or less are called short-term capital gains. Alternatively, gains from assets you’ve held for longer than a year are known as long-term capital gains. Typically, there are specific rules and different tax rates applied to short-term and long-term capital gains. In general, you will pay less in taxes on long-term capital gains than you will on short-term capital gains.

 

If you just have a few transactions enter them manually.   It sounds like they are short term  (held less than 1 year) so they will be taxed as ordinary income.

 

 

 

 

if you did not receive a 1099-B and you are certain that you will not get it at the end of February ( the deadline for the broker)

you must set your sales category to C or F.

 

Recommend you check with your broker to find out where is your 1099-B.

even if you are just dabbling the IRS requires your broker to send you, and them,  a 1099-B.