Filing of a 1099B sent to me by a stock company

[JERRY-CH]

I encountered a problem today when filing the 1099B issued by the stock company. Last year, after I used the import function of turbotax, it jumped to the interface of searching for stock companies and banks, etc. I found my stock company, and turbotax also successfully helped me import all my 1099B forms including my records of every transaction (form capital g/l adj). But after I did the same this year, turbotax only generated 1099B and form Cap Asset Sales. Are these two forms the same form? Is this change normal? Do I still need to generate a form for every transaction like last year? Looking forward to your answer!

[JohnB5677 · Accepted solution]

These two forms are similar, but they report slightly different things.

"Sales and Other Dispositions of Capital Assets" is an IRS form used by individuals, and businesses to report capital gains and losses from capital assets.   

This form will document:

The sale or exchange of a capital asset not reported on another form or schedule

Gains from involuntary conversions (other than from casualty or theft) of capital assets not used in your trade or business

Non-business bad debts

The worthlessness of a security

The election to defer capital gain invested in a Qualified Opportunity Fund

The disposition of interests in Qualified Opportunity Funds

This is not a change, and it is normal.

Both of the information forms (1099-B, and Disposition of Capital assets), will be entered for every transaction, like last year.