I have a 1099-B. Only Boxes 8 and 11 have a value. All other boxes are blank. How do I report this?

[MichaelDC · Accepted solution]

Just enter Box 11 (gain or loss) in the appropriate TurboTax box.

To do this:

Under Investment Income, click Start/Update on "Contracts and Straddles"

Continue twice and check the box for Section 1256 contracts marked to market.

You will find that TurboTax offers only two boxes for Line 11 (gain or loss) and that is all that has to be entered.

[momchi]

THIS IS CORRECT, explanation: box 11 (of 1099-B) is the "aggregate profit/loss for the reported year" -- this should be listed as GAIN in box 1(c) of form 6781 (see notes on back of form IRS-6781) AND amount of ZERO in box 1(b) (same form, 6781 as LOSS). Here is the math:  1099-B box.11 (aggregate P/L) = 1099-B box.8 (realized P/L) + 1099-B box.10 (unrealized P/L) - (MINUS) 1099-B box.9 (prior year unrealized P/L). NOTE: if the amounts in 1099-B boxes are negative (often listed in parentheses!) then one MUST include it! Example: if box.10 is negative (unrealized LOSS), then it is subtracted from box.8 etc. IMPORTANT: when subtracting amount of box.9 for prior year also account for its sign in addition to the subtraction (MINUS) sign. IMPORTANT: DO NOT LIST any of the 1099-B boxes 9 or 10 as LOSS in form 6781 box.1(b) - any amount of loss is computed by the above formula already!!!

[kingjaay27]

i have the same question, followed instructions above.. for 8 - account description, do i enter description from box 1a on 1099 b?

[lcharrisej]

Do I have to buy turbotax premier. I presently have the deluxe edition

[MichelleLO]

You are commenting on an old thread that may contain outdated information.  Please see the below TurboTax help article for information about TurboTax Premier and what is included with it.

Is TurboTax Premier Online right for me?

@lcharrisej

[lcharrisej]

 didn't answer my question

[GeorgeM777]

Yes, you will need TurboTax Premier.  When in TurboTax Premier, from the Income & Expense screen, scroll down to Interest and Dividends, select Interest on 1099-INT (the 1099-B box 8 and box 11 amounts are exempt interest and bond premium), then follow the prompts until you get to the screen Let's get the info from your 1099-INT.  Enter your exempt interest and then check the box My form has info in other boxes (this is uncommon). Enter the bond premium amount in Box 11.  

@lcharrisej