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w19598
New Member

To report foreign capital gain at investment sales, however, I do not have 1099-B, what shall I choose at 'sales category'? Shall i choose Box F-Long-term not reported?

 
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3 Replies
KarenJ2
Expert Alumni

To report foreign capital gain at investment sales, however, I do not have 1099-B, what shall I choose at 'sales category'? Shall i choose Box F-Long-term not reported?

Yes, if they are long term sales. You can, however, enter information in TurboTax without a 1099-B

 

To enter stock sales without a 1099-B you can follow the steps below and then the program will determine whether they are short term or long term;

With your return open:

  1. Click on Federal
  2. Click on Wages & Income at the top of the page
  3. Scroll down to Investment Income
  4. Click on Start or Revisit for Stocks. Mutual Funds, Bonds, other
  5. Click on No that you did not receive a 1099-B
  6. Continue

 

 

 

 

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EK_W
Level 1

To report foreign capital gain at investment sales, however, I do not have 1099-B, what shall I choose at 'sales category'? Shall i choose Box F-Long-term not reported?

@KarenJ2 

TT let's me enter my cost basis and sale amount without the 1099-B, but says the IRS requires the form (either by pdf upload or mail).  This was a company program handled by a 3rd party investment firm overseas, which I did not know at the time the company would wash its hands of the program and force everyone to sell without any documentation other than a transaction history.  I don't have any of the information needed to complete the 1099-B other than my total cost basis/sale amount and the company is not helping at all.  Will I get in trouble if I do not submit the 1099-B?  I'm really worried that my ignorance will cause a problem if I am audited.

To report foreign capital gain at investment sales, however, I do not have 1099-B, what shall I choose at 'sales category'? Shall i choose Box F-Long-term not reported?

If I choose - I have not received 1099-B ..turbotax still says IRS require you to upload pdf or mail it later ...but from foreign broker (India) I have not received it at all so how can I upload or send them even later?

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