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
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.
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.
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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Composite transactions are part of form 1099B.
Some brokerage companies issue a "Composite 1099 Form" that replaces multiple individual 1099 forms such as,
- 1099-INT, and
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