1099-B and form 8949

[Joni13]

I have a 1099-B with all -0- for 2021   == it was the same for 2020 -- all -0-     -- however when I uploaded my documents from Raymond James last year 2020  -- it added all of the trades on for 8949 == and I filed it last year -- should I upload the document this year also?  

[JohnB5677]

Please clarify your statement.  It would be very unusual to have multiple trades that ALL netted to -0-.  Please confirm that this is accurate.

[Joni13]

thank you  = the first page of my Raymond James report has Section 1256 Contracts - 2021 1099B == numbers 8- 9- 10- and 11- all have 0.00  that is all that is on the front page --  

[GeorgeM777]

To follow-up on the comments from @JohnB5677, what does the rest of your 1099-B reflect in terms of income?  For example, do you have any short-term gains or losses, or long-term gains or losses?  The short-term and long-term gains/losses will be listed in separate sections of your 1099-B. Dividends and interest will also have their own sections.  

If your 1099-B has neither gains nor losses, and no interest or dividends, then we are not sure why you received one.  While there is probably no harm in uploading the 1099-B into TurboTax, there is probably no point in filing forms such as Schedule D or Form 8949 with your return if there is nothing on those forms.   Although if there is nothing reported on Schedule D or Form 8949, such forms can always be deleted; therefore, if you remain unsure as to what income may be listed on your 1099-B, go ahead and upload it.  Then you can review the Investment Income section of TurboTax to see what has been entered.  

@Joni13

[Joni13]

There is no other information -- there is no other portion of the form 

the only thing they provided was all 0 

[DianeW777]

You should try to upload your form based on your comments about 2020.  You might also call the company to inquire about why you show all zeros and then information uploads that is not on Form 1099-B.  For clarification, information is provided below about Section 1256 contracts.

Only Box 11, needs to be entered since it is the 'Aggregate Profit/Loss on Contracts'. A Section 1256 contract is a type of investment defined by the IRS as a regulated futures contract, foreign currency contract, non-equity option, dealer equity option, or dealer securities futures contract.

What makes a Section 1256 contract unique is that each contract held by a taxpayer at the end of the tax year is treated as if it was sold for its fair market value, and gains or losses are treated as either short-term or long-term capital gains.

1. With your TurboTax return open follow the steps next
2. Under Investment Income, click Start/Update on "Contracts and Straddles"
3. Continue twice and check the box for Section 1256 contracts marked to market.
4. Continue to complete the prompts on each screen

You will find that TurboTax offers only two boxes for Line 11 (a gain or a loss) and that is all that has to be entered.