TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Form 1099-B

Forum|Forum|5 years ago
March 17, 2021
2 replies
16 views

I am having trouble finding the codes that I am supposed to use on the Form 1099-B. I received our 1099-B from National Financial Services and it is very hard to understand. I also want to be able to report the losses properly.

Level 15

Form 1099-B reports an investment sale so the important things to enter are the date purchased, date sold, proceeds and cost basis. If you post the code letters you see on the form we may be able to help your further.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Colorado3477Author

Level 2

Thank you for your answer. I still do not see which codes to use per Form 8949. I also need to report a loss and a wash? If I try to report a loss Turbo Tax Premier requires a code from Form 8949, "A" is not even listed as a code. I am really confused. Thank you for your time.

Level 15

here are the codes but they should be on the 1099-B - maybe not by each trade but possibly at the start of each section

A = short-term trade with sales proceeds and cost basis reported to the IRS

B = short-term trade with sales proceeds but not cost basis reported to the IRS

C = short-term trade with neither sales proceeds nor cost basis reported to the IRS

D = same as A but for long-term trades

E = same as B but for long-term trades

F = same as C but for long-term trades

Mike9241

Colorado3477Author

Level 2

Thank you for your reply. Those codes are not the ones that Turbo Tax Premier is looking for.