1099-B

Forum|Forum|1 year ago
February 15, 2025
1 reply
2 views

where does the Fidelity 1099-B Accrued Market Discount go in a TurboTax form?

DianeW777

Level 15

The accrued market discount should have an entry space when entering your sale.

Open your TurboTax Online/Moblie return:

Select Tax Home on the left panel > Select any Income category or Pick up where you left off
Select Tax Tools > Tools > Select Topic Search > Type 1099b > Select GO (should be landed on 1099b)
Select Add Investments if your 1099-B is not yet present in your list
Continue to follow the prompts to enter the information yourself

Open your return in TurboTax Desktop:

Select Personal Income > Scroll to Investment Income > Select Stocks Cryptocurrency, Mutual Funds, Bonds, Other
Start or Update > Continue to follow the prompts to enter your 1099-B

The sale of any investment is required to be included with your tax return, gain or loss. Information from the link below may be helpful

If you are prompted to mail a Form 8453 with Form 8949 simply send this to the IRS, possibly with your 1099-B statement. This is a common request.

If you are e-filing your tax return, then mail your statements (1099-Bs or other document showing detailed sales information) along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet)

@PJT16939

[Edited: 02/22/2025 | 1:22 PM PST]

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baldietax

Level 12

@DianeW777 maybe some confusion here the question was about Accrued Market Discount reported on 1099-B, not accrued interest.

@PJT16939 if you're inputting as sales summaries there should be an option to add an adjustment. But this may also trigger a need to upload or mail your 1099-B to the IRS. The other alternative is to input sales items which have adjustments for wash sales, AMD etc as "one by one" with all the details and it will have a field for AMD the way it comes on the 1099-B