Can I submit (upload) more than one 1099-B from the same brokerage account?

[jemannix1]

How can you list multiple 1099-B from the same brokerage account?

[DavidD66]

Do you have multiple Forms 1099-B from the same account (same account #) or multiple accounts with the same broker/dealer.  If the former, not unless they import at the same time - you can try.  For the later, sometimes you can successfully import multiple Forms 1099-B from the same broker/dealer, and in other cases the second or later will over wright one of the previous imports.

[tamaratreichel]

I received my 2019 1099 form from my stock broker, at the first page, in the section 1256 contracts 1099B line 8 profit or loss realized in 2019 on closed contract is a negative number, but at the first page in summary of proceeds,gains losses,adjustment withholding, the net gain is a positive number, what is difference between these 2 numbers? one number is negative, one number is positive, did i make money in 2019 or lose money in 2019?

[JotikaT2]

It depends.

1099-B forms are set up differently from brokerage to brokerage.

Look at you forms.  They may be broken out by long term sales and short term sales.  This may be why one page shows a gain but the other shows a loss.

[KW169304]

Thank you for that. What if it does not work? Is there a work around for this issue yet?

[ReneeM7122]

Yes, you can upload multiple 1099B forms from the same brokerage account.  If you have difficulty, it may help to delete your 1099-B and start again.  Here's how:

How do I view and delete forms in TurboTax Online?

• Open or continue your return in TurboTax.
• In the left menu, select Tax Tools and then Tools.
• In the pop-up window Tool Center, choose Delete a form.
• Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

To enter Form 1099-B, follow these steps:

• Go to the Federal Taxes tab (or Personal, if working in TurboTax Self-Employed/Home & Business), then select Wages & Income, then Investment Income, then Stocks, Mutual Funds, Bonds, Other.
•  Follow the prompts to enter the 1099-B information.  This will require an upgrade to TurboTax Premier online, since a Schedule D will be prepared.

Here's more information about Form 1099-B.

@KW169304

[Trial by error]

My wife and I spent hours working on this as we refused to input thousands of trades in one at a time. The trick is to use a separate computer, that's right it's as simple as using two computers, one for each account.

Sad news though if you have made more than  1550 trades then turbo tax won't let you upload directly.

[fanfare]

Next time don't spend hours.

At tax time, you have the option to summarize your transactions by Sales Category.

IRS requires details to be listed on a Form 8949,
or on your other forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.(unless you have attached a PDF of the transactions details to your e-Filed return. TurboTax seems to be adding this feature now).
Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.
If you don't have a 1099-B from coin base your sales category is C or F.

There is no exception for these categories.

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As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.
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If you have wash sales, it gets more complicated since those adjusted transactions have to be itemized on Form 8949 and the summary totals adjusted accordingly.

Enter the wash sales on Form 8949, then use the subtotal results on the bottom of that form (Line 2) to know how much to subtract which gives you the Schedule D line 1a totals. Be sure to NOT check the adjustments box in the summary window.
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Alternatively, if entry of Wash Sales is too tedious,
summarize and check the box for adjustments and enter the disallowed amount.
This summary will go on Schedule D Line 1b.
You will be making the mail-in election.

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If you were wise enough to avoid wash sales, you won't have to list or detail anything.