My brokerage firm has issued a corrected Form 1099 Composite. What is the best way to get the information into Turbo Tax?

gunfirelpd — Tue, 04 Jun 2019 21:09:48 GMT

How do I add or edit a 1099-B? Open your return. (To do...

NancyG — Tue, 04 Jun 2019 21:09:49 GMT

How do I add or edit a 1099-B?

Open your return.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)
Do a search for 1099-B (upper- or-lower case, with or without the dash) and then click the "Jump to" link in the search results.
On the Did you sell any investments in 2016? screen, answer Yes.

If you land on the Here's the investment sales info we have so far screen instead, click Edit (to add, change, or review sales from a previously entered brokerage) or Add More Sales (to add or import sales from a new brokerage).

Follow the onscreen instructions.

Tip: Don't confuse Box A, B, D (etc.) on your TurboTax screen with the Box 1a, 1b, 1c (etc.) on your 1099-B form. These are two completely different things.

Capital-letter boxes A, B, D, E, and X often appear as headers or section titles on your 1099-B form instead of literal boxes. Exact wording varies between brokerages; for example, the Box A from 3 different brokerage statements might read:

Short-term transactions for which basis is reported to the IRS—report on Form 8949 with Box A checked.
Short-term transactions for which basis is reported to the IRS--report on Form 8949, Part I, with Box A checked.
Short-term transactions for which basis is reported to the IRS—report on Form 8949 with Box A checked and/or Schedule D, Part I.

Nevertheless, they all mention Box A, so you'd select Box A in TurboTax (near the bottom of the screen), and above you enter the info for boxes 1a–1e which correspond to your 1099-B form. Boxes B, D, E, and X work the same way.

topic My brokerage firm has issued a corrected Form 1099 Composite. What is the best way to get the information into Turbo Tax? in Retirement tax questions

My brokerage firm has issued a corrected Form 1099 Composite. What is the best way to get the information into Turbo Tax?

How do I add or edit a 1099-B? Open your return. (To do...