1099-B despite not selling?

[aE]

I received a consolidated 2024 1099 which includes 1099-INT, 1099-DIVDIV, and 1099-B. I haven't transacted at all yet there are gains reported in the 1099-B section . Entering these in results in a big tax bill. I've had this investment for 6 years and have never received a 1099-B unless I actually transacted.

This 1099-B is buried in the end of the 1099 and states "the information is not reported to the IRS, but may be helpful to complete your return." but the details say "(basis reported to IRS)" for Box D but Box E isn't reported?

Do I need to enter in the amounts from this section 1099-B? Any guidance on what to do here?

[JohnB5677]

Please clarify your question.

• Does the 1099-B reflect the actual sale of the asset?
• Is the basis correct?
• Were these assets purchased prior to 2008?
• Brokers were not required to track basis prior to that

Please contact us again to provide some additional details. 

[aE]

I don’t understand why there’s a 1099-B at all. I didn’t transact in this mutual fund, which I bought in 2018 and have held since. Box 2a on the 1099-DIV is $0, meaning no capital gain distributions.

The 1099-B reports an ST realized loss, a large LT gain in Box D (to report on Form 8949, Part II), and another gain in Box E. The cost basis appears on multiple lines, so I’m unsure if it’s correct.

If there are no capital gain distributions (Boxes 2a-2f all $0) and I didn’t sell, do I need to enter the 1099-B values (Proceeds, Cost Basis, Gains)? The form says, “not reported to the IRS but may be helpful,” yet Box D states “basis reported to IRS,” while Box E isn’t reported.

Should I enter these amounts from 1099-B?

[DianeW777]

It depends. If you did not redeem or trade any of your mutual funds then there is nothing to report, however your financial agent has added something as though it did. My advice would be to report the 1099-B with the proceeds and cost basis reported.

You can choose to import or manually enter your 1099-B.

• Where do I enter or import a 1099-B?

@aE