topic IRS indicate I missed reporting 1099G, but I have 1099B for big lost and that is why I didn't report 1099G. What should I do? in Get your taxes done using TurboTax

IRS indicate I missed reporting 1099G, but I have 1099B for big lost and that is why I didn't report 1099G. What should I do?

zhelucyliu — Fri, 12 Jul 2019 05:50:40 GMT

Re: IRS indicate I missed reporting 1099G, but I have 1099B for big lost and that is why I didn't report 1099G. What should I do?

Rainman12 — Fri, 12 Jul 2019 06:26:14 GMT

Accept IRS finding and pay what you owe. You can Not report just the net; you have to report All 1099 forms. 1099B is (mostly) for capital gain/loss, 1099G Government payments. Different kinds of income, treated differently for tax purposes.

Re: IRS indicate I missed reporting 1099G, but I have 1099B for big lost and that is why I didn't report 1099G. What should I do?

Anonymous — Fri, 12 Jul 2019 07:04:42 GMT

the 1099-B loss that is deductible in any one year is limited to $3,000 while the entire 1099-G amount is taxable. (there are certain exceptions for a 1099-G that represents a refund of state income taxes. the taxability of that can be complicated.