topic How to enter 1099B tax-exempt Bond? in Investors & landlords

How to enter 1099B tax-exempt Bond?

bsmiller12 — Sat, 01 Jun 2019 19:41:35 GMT

Form 1099-B (Proceeds from Broker and Barter Exchange Tra...

DawnC0 — Sat, 01 Jun 2019 19:41:36 GMT

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 in TurboTax:

Open (continue) your return if it's not already open.
In TurboTax, search for "1099-B" or "1099B" (lower-case also works) and then select the "Jump to" link in the search results.
Answer Yes to Did you sell any investments in 2017?
- If you see Here's the investment sales info we have so far, select Add More Sales.
- If you're in Free Edition or Online Deluxe, follow the instructions to upgrade to Premier.
Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
When you get to Choose your bank or brokerage or Let Us Enter Your Investment Sale Info, choose how you want to enter your 1099-B (import or type it in yourself).
Follow the onscreen instructions.

Related Information:

Where is Form 8949?

Re: Form 1099-B (Proceeds from Broker and Barter Exchange Tra...

ed8 — Mon, 27 Jan 2020 06:02:28 GMT

I did this for a sale of some VCADX, and then TurboTax reduced my refund. It appears that TurboTax does not handle tax exempt bond funds properly.

Re: How to enter 1099B tax-exempt Bond?

ed8 — Sun, 20 Feb 2022 21:11:37 GMT

I think the dividends accrue tax free. However, when you sell your bond (or bond fund), it appears to be a fully taxable event?

"While the interest income is usually tax-exempt for municipal bonds, capital gains realized from selling a bond are subject to federal and state taxes. The short-term or long-term capital gain, or loss, on a bond sale, is the difference between the selling price of the bond and the original purchase price of the bond."

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