Form 1099-B is usually sent to the account owner by the brokerage firm where the owner maintains their account. You should also be able to access your 1099-B online as most firms provide 1099-Bs and other tax documents to their customers via online access.
If you have your 1099-B, proceeds are reported in column/box 1d on Form 1099-B. Usually, box 1d is labeled as "Proceeds," but it includes gross proceeds unless the form indicates otherwise. You will need the gross proceeds amount for any sale you effected in your account because the gross proceeds are entered into TurboTax.
When you are ready to enter your gross proceeds and other trade information, follow these steps:
- If using TurboTax online, from the Your income and expenses screen, scroll down to Investments and Savings, click on the drop-down arrow if necessary, and then select Stocks, Cryptocurrency, Mutual Funds, Other (1099-B). On the following screens enter your information.
- If you are using TurboTax CD/download, the process is similar except from the Personal Income tab, scroll down to Investment Income and select Stocks, Mutual Funds, and Bonds.
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