1099-B/return of principal with the short term capital gain box checked and now they are asking for a form 8949, did I do something wrong?
I have a 1099-B that was a return of principle. When I entered it I had to check something so I checked short term basis wasn't reported to the IRS. Now I need to submit a 8949 and I'm not sure what to do?
012532
1 Best answer
MiriamF
Intuit Alumni
Jun 4, 2019 11:10:27 PM
Return of principal is not taxable. If this is all that was reported on your 1099-B, then you should not owe any tax.
You don't have to report return of principal, so if that's all that was on this 1099-B, then you can safely ignore it.
1 Replies
MiriamF
Intuit Alumni
Jun 4, 2019 11:10:27 PM
Return of principal is not taxable. If this is all that was reported on your 1099-B, then you should not owe any tax.
You don't have to report return of principal, so if that's all that was on this 1099-B, then you can safely ignore it.