Solved: Entering 1099B. If taxable income (from a job) was less than $6300 in 2016, does the 1099B have to be reported?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
alexanderclinger
New Member

Entering 1099B. If taxable income (from a job) was less than $6300 in 2016, does the 1099B have to be reported?

 
1 Best answer

Accepted Solutions
ChristinaS
New Member

Entering 1099B. If taxable income (from a job) was less than $6300 in 2016, does the 1099B have to be reported?

Yes, if you are filing a tax return, you cannot file incomplete information. Even if your 1099-B proceeds and wages are under $6300, your refund may not be accurate without all income being reported. For instance, the Earned Income Credit could be different on account of this income. 

Leaving tax forms off of your return can also cause a delay, as the IRS' computers can sometimes detect missing forms before a refund is processed.

View solution in original post

1 Reply
ChristinaS
New Member

Entering 1099B. If taxable income (from a job) was less than $6300 in 2016, does the 1099B have to be reported?

Yes, if you are filing a tax return, you cannot file incomplete information. Even if your 1099-B proceeds and wages are under $6300, your refund may not be accurate without all income being reported. For instance, the Earned Income Credit could be different on account of this income. 

Leaving tax forms off of your return can also cause a delay, as the IRS' computers can sometimes detect missing forms before a refund is processed.

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings