topic Re: 1099-B in Investors & landlords

1099-B

nancysmall60 — Wed, 15 Apr 2020 21:06:39 GMT

Hi. I have a 2019 Consolidated Form 1099 and an Amended Form 1099. The date on the Consolidated one is 1/28/20 and the date on the Amended one is 2/25/20. The Consolidated one has a lot of info for the 1099-B part but the Amended one only has two items listed. Do I need to enter all the information from both forms? The info on the Amended form is not on the Consolidated form. Because the info on the Amended form was not included on the Consolidated one so that is why they sent it to me?

Do I need to enter each item sold separately ( I sure hope not) or can I just put totals.

Thank you so much for your help.

Re: 1099-B

KathrynG3 — Wed, 15 Apr 2020 21:36:06 GMT

It depends. Typically, when updates are received from brokers, only the corrected one is entered. However, since you have additional detail, not corrected detail, then you would need to enter all details reported on government forms: 1099-INT, 1099-DIV, 1099-OID, 1099-B, 1099-MISC.

Regarding the details of 1099-B, yes, the details should all be entered. However, this can be imported. Otherwise, it can be entered in summary form as long as the details are mailed in included with a "cover page," Form 8453, within 3 days of the electronic filing.

Form 8453 will be included in your return if you selected the option to enter a summary of stock sales. It will need to be printed and mailed in with your detail.

Click the links for more details:

How do I import my 1099?

Where do I enter a 1099-B?

Where is Form 8949?

For state details that are required to be submitted, it would depend on your particular state. To contact your state's Department of Revenue, click this resource for Sate Department of Revenue Resources.

@nancysmall60

Re: 1099-B

nancysmall60 — Wed, 15 Apr 2020 21:38:22 GMT

Thank you for your help. I will see if I can import the information.

Re: 1099-B

nancysmall60 — Wed, 15 Apr 2020 21:50:09 GMT

I just imported the information and it is only showing the info from the Amended Form. I just now discovered that I have consolidated forms from the same broker but there are two different account numbers.

Thanks again