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jtroesch
New Member

Where do i enter form 1099 composite

 
9 Replies
NickS
New Member

Where do i enter form 1099 composite

Your form 1099 composite is simply multiple forms in one document. 

You will take each form and enter it as if it were distributed on its own. 

You likely have a 1099-INT, and a 1090-DIV. 

You may also have a 1099--B, 1099-OID and a 1099-MISC included in the statement.

Simply find the appropriate entry area in the Federal Taxes - Wages and Income area for the entry of each form.


Frank73
New Member

Where do i enter form 1099 composite

If my 1099 composite shows 0’s for each type of form on it, do I have to file it? 

ToddL99
Expert Alumni

Where do i enter form 1099 composite

 

If you received a 1099 Composite statement and all the entries are "0" , then you wouldn't have anything to report on your tax return.

 

(This is unlikely, however, because the only reason a financial institution would send you a 1099 Composite is if you had at least one type of 1099 to report.)

 

A "1099 Composite" is just a consolidated statement that lists the 1099s issued by a financial institution, typically 1099-DIV, 1099-INT and 1099-B.

 

 

aacido2012
New Member

Where do i enter form 1099 composite

hi, if my 1099 composite show 0's except the MISCELLANEOUS INCOME "3- Other Income 43.40, do I still have to file?

JohnB5677
Expert Alumni

Where do i enter form 1099 composite

Maybe, it will depend on all of the other income that you received. 

 

The $43.40 is taxable income and would be posted as 1099-MISC, but if all of your income as a single taxpayer does not exceed $12,400 you do not have to file a tax return.

 

 

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madge_armstrong
New Member

Where do i enter form 1099 composite

Did not liquidate any stock investments. Do I need to list capital gains

ReneeM7122
Level 8

Where do i enter form 1099 composite

Composite transactions are part of form 1099B.  

 

Some brokerage companies issue a "Composite 1099 Form" that replaces multiple individual 1099 forms such as,

  • 1099-B,
  • 1099-INT, and
  • 1099-DIV.

Sometimes, the individual sections of the composite forms do not include all of the information that is available on a standard 1099 form, such as the check boxes for short-term and long-term transactions on the standard 1099-B form. Instead, many of these composite forms simply group the different types of transactions so that you can readily tell which ones are short-term and long-term.

 

To enter the information on form 1099B in TurboTax, follow this link for instructions.

Here's a TurboTax article that discusses Form 1099-B: Proceeds from Broker Transactions.

 

To get to that section in TurboTax, search for 1099B and 

Alimakki1
New Member

Where do i enter form 1099 composite

What about 15$ only gain ? :))

ColeenD3
Expert Alumni

Where do i enter form 1099 composite

@Alimakki1 Yes, you must report all your income.

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