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New Member
posted Mar 18, 2021 12:24:12 PM

Form 1099B

How do I add Prepaid Federal Taxes from Form 1099-B, Block 4, into Turbo Tax?

Thanks!

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1 Best answer
Expert Alumni
Mar 18, 2021 1:28:37 PM

The screen where you enter investment sales reported on Form 1099-B, has an entry box for tax withheld.  To display that entry box. you  have to check the box to indicate "I have more info to enter that I don't see here".  When you check that, it triggers the program to display more entry boxes, including taxes withheld.  See screenshot below:

 

6 Replies
Level 15
Mar 18, 2021 1:04:06 PM

in Turbotax there is a tax payment worksheet where there's a place to enter withholding reported on 1099-B

alternatively, the 1099-B worksheet also has lines for federal withholding

Expert Alumni
Mar 18, 2021 1:28:37 PM

The screen where you enter investment sales reported on Form 1099-B, has an entry box for tax withheld.  To display that entry box. you  have to check the box to indicate "I have more info to enter that I don't see here".  When you check that, it triggers the program to display more entry boxes, including taxes withheld.  See screenshot below:

 

Returning Member
Apr 3, 2021 9:14:19 AM

I DONT have a DATE

Returning Member
Apr 3, 2021 9:17:27 AM

I DONT have that FORM

Level 15
Apr 3, 2021 9:18:02 AM

A Date for what?  You have added on to a post about 1099B withholding.

Expert Alumni
Apr 3, 2021 9:25:30 AM

If you do not have a "DATE" for when you acquired the investment (stock, mutual fund, bond or other), then you will have to select one that accurately reflects your holding period.

 

If you held the investment for at least one year, then you can select any date that is a year or more before the date you sold the investment. The program will then report this as a long-term (> or = 1 year) gain or loss.

 

If you held the investment for less than one year, then you can enter 01/01/2020 as the date acquired. For any sale later in 2020, the program will report this as a short-term (< 1 year) gain or loss. 

 

If you do not have a "DATE" for when you sold the investment (stock, mutual fund, bond or other), then enter 12/31/2020.