topic How do I report stock sales if I didn't get a 1099b? in Investors & landlords

How do I report stock sales if I didn't get a 1099b?

frenchie0401 — Wed, 17 Feb 2021 20:37:01 GMT

I sold stock through Robinhood in 2020 but because I didn't meet a certain limit, they didn't send me a 1099b. I know I still have to report it but I don't know how.

Re: How do I report stock sales if I didn't get a 1099b?

RayW7 — Wed, 17 Feb 2021 20:56:45 GMT

A 1099-Bit is not required to enter the stock sale and associated capital gains. Use the instructions in the link below and when asked if you received a 1099-B, answer NO.

Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities. Here's where you enter or import your 1099-B (even if you did not get one) in TurboTax:

Open (continue) your return if it isn't already open.
In TurboTax, search for 1099-B and then select the Jump to link in the search results.
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
- If you see Here's the info we have for these investment sales, select Add More Sales.
Answer NO to Did you get a 1099-B or brokerage statement for these sales? Or answer YES if you want to try to import it.
Follow the instructions.

Related Information:

Re: How do I report stock sales if I didn't get a 1099b?

ariel6 — Thu, 18 Feb 2021 16:07:48 GMT

I live abroad, and my local broker does not issue form 1099-B. Therefore, I do not have a 1099-B. In order to file my stock gain/loss without form 1099-B, I followed the steps above. Yet I did not see the question in step 4 (Did you get a 1099-B or brokerage statement for these sales? ). I was still required to upload a 1099-B PDF which I do not have.

Re: How do I report stock sales if I didn't get a 1099b?

gloriah5200 — Mon, 22 Feb 2021 00:05:25 GMT

You can upload the worksheet as a pdf that you have kept for your own records that contains the transactions that would normally be reported on 1099-B.

You can even attach a note to that worksheet why you did not receive a 1099-B.

Re: How do I report stock sales if I didn't get a 1099b?

dSF2 — Mon, 12 Apr 2021 18:30:02 GMT

I did not receive a 1099-B from an international broker as well. TurboTax only gives me the option to "Upload a 1099-B PDF" or "Mail a 1099-B copy".

I do have a full Account Statement Summary that shows my Profit/Loss for each day with everything summed up in the end. Can/should I submit this as a substitute to a 1099?

Re: How do I report stock sales if I didn't get a 1099b?

Irene2805 — Mon, 12 Apr 2021 18:41:24 GMT

You can either enter each stock transaction separately, or enter a summary for each category (short-term covered, long-term covered, etc.)

If you want to enter summaries for the different categories, you can submit the Account Statement Summary as a substitute for the 1099-B.

Re: How do I report stock sales if I didn't get a 1099b?

dSF2 — Mon, 12 Apr 2021 19:21:44 GMT

Will I need to submit a Form 8949?

Re: How do I report stock sales if I didn't get a 1099b?

DawnC — Mon, 12 Apr 2021 19:34:38 GMT

Yes, the stock sales will be reported on Form 8949. @dSF2

Form 8949 (Sales and Other Dispositions of Capital Assets) records the details of your capital asset (investment) sales or exchanges. Part I of the 8949 shows the short-term sales (held less than a year) and Part II has the long-term sales.

When you enter investment sales or exchanges in TurboTax, we'll automatically fill out Form 8949 and transfer the info to Schedule D. You don't need to fill out the 8949 yourself.

Most taxpayers don't need to mail in their 8949s either (unless they're paper-filing, in which case it gets included along with all their other tax forms). If you're e-filing, you only need to mail copies of your 8949 along with Form 8453 if:

You entered a summary for one or more sales categories (instead of each individual sale); AND
The sales category for one or more summaries is something other than Box A (short-term covered) or Box D (long-term covered); or
The Box A and/or Box D summary includes adjustments (typically listed in boxes 1f or 1g on your broker statement).

Otherwise, if you entered each individual sale, or you entered summaries for Boxes A and/or D with no adjustments, don't mail in your 8949. TurboTax will let you know if you need to mail anything to the IRS. If you're required to mail in forms 8949 and 8453, do so within 3 days after the IRS has accepted your e-file. Here's the mailing address:

Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

Re: How do I report stock sales if I didn't get a 1099b?

dSF2 — Mon, 12 Apr 2021 19:57:51 GMT

This is super helpful, thank you very much! In my scenario, I've selected "Short-term did not receive 1099-B" form and indicated a single total amount of Proceeds and Cost basis and will be submitting my detailed broker account summary instead of a 1099-B.

Re: How do I report stock sales if I didn't get a 1099b?

dSF2 — Mon, 12 Apr 2021 23:59:34 GMT

Another question came up - I have an Account Summary (shows cumulative P/L for each day) and a Trade Summary (shows exact stocks and entry/exits for each trade with P/L).

Do/should I submit both Account and Trade Summaries, or does the Account Summary suffice?

Re: How do I report stock sales if I didn't get a 1099b?

JohnB5677 — Tue, 13 Apr 2021 12:58:41 GMT

The account summary will suffice. The IRS just needs a legal form to compare to.

Re: How do I report stock sales if I didn't get a 1099b?

Idkwiam — Tue, 12 Oct 2021 01:49:13 GMT

I am in the same situation. what did you do for the filing? thanks @ariel6

Re: How do I report stock sales if I didn't get a 1099b?

Idkwiam — Tue, 12 Oct 2021 01:53:33 GMT

I followed your instruction but I did not see the question in step 4 (Did you get a 1099-B or brokerage statement for these sales? ). I use the web version. Could you please kindly let me know what to do with this situation? Thanks. @RayW7

Re: How do I report stock sales if I didn't get a 1099b?

DoninGA — Tue, 12 Oct 2021 01:59:10 GMT

@Idkwiam wrote:

I am in the same situation. what did you do for the filing? thanks @ariel6

You are asking for a reply from a user that posted over 8 months ago, doubtful that they will ever respond on this forum.

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the screen Did you sell stocks, mutual funds, bonds, or other investments in 2020? click on Yes

On the screen OK, what type of investments did you sell? click on Other and then on Continue

Continue past the screen Tell us more about this sale

On the screen Now we’ll walk you through entering your sale details, select the type of investment sold in the dropdown on What type of investment did you sell?

Continue with this section until it completes.

Re: How do I report stock sales if I didn't get a 1099b?

dSF2 — Tue, 12 Oct 2021 17:02:28 GMT

I followed these steps here and attached an account summary for that filing year!

Re: How do I report stock sales if I didn't get a 1099b?

Idkwiam — Wed, 13 Oct 2021 20:21:15 GMT

Thanks. Interesting here, under "Other" tab, we could still choose stocks...

Re: How do I report stock sales if I didn't get a 1099b?

Idkwiam — Wed, 13 Oct 2021 20:29:38 GMT

@gloriah5200 could you pls kindly let me know where to upload such a worksheet and note? Thanks

gloriah5200

‎February 21, 2021 4:05 PM

You can upload the worksheet as a pdf that you have kept for your own records that contains the transactions that would normally be reported on 1099-B.

You can even attach a note to that worksheet why you did not receive a 1099-B."

Re: How do I report stock sales if I didn't get a 1099b?

Idkwiam — Wed, 13 Oct 2021 20:31:26 GMT

@dSF2 Hi, when will TurboTax ask to upload 1099B? when we do the final review? Thanks very much

Re: How do I report stock sales if I didn't get a 1099b?

4244WiHu — Wed, 16 Feb 2022 20:57:55 GMT

Need info on reporting stock sale without 1099-B

Re: How do I report stock sales if I didn't get a 1099b?

DianeW777 — Wed, 16 Feb 2022 21:14:41 GMT

A document is not required to report your stock sales. You will enter the sale as if you had one by entering the company, the stock symbol or name, number of shares (20SH XYZ) and the rest of the details of the sale.

Select to 'Type it myself' and do not choose any upload option.

Open (or continue) your return if it isn't already open
Select the magnifying glass, search for 1099-B and then select the Jump to link in the search results
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you see Your investment sales summary, select Add More Sales
On the OK, let's start with one investment type screen, select the category that applies to your situation and Continue
Answer No to Did you get a 1099-B or brokerage statement for these sales?
At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself)
Answer the questions about your 1099-B
- Select Stock as the type and be sure to select the appropriate way you received the investment.

Form 1099-B is included in TurboTax Premier, TurboTax Live Premier, Self-Employed, and TurboTax Live Self-Employed (online) and in all personal CD/Download versions of TurboTax.

@4244WiHu