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Returning Member

having difficulty entering both short & long term 1099-B

I am on the page of the tax form for a 1099-B were it's asking for 1st day offering period,date purchased , market price on grant date and market price on purchase date per share and am not shore which is the correct information to enter for each part and how i enter both the long term and short term seperately.

 

Thanks 

Brian

3 Replies
Employee Tax Expert

having difficulty entering both short & long term 1099-B

You are in a portion of the software that deals with employ stock purchases.  If you do have employee stock purchases your employer may be able to provide you with those numbers.

 

If you do not have employee stock and you're referring to a typical 1099-B with stock sales on it.  You should clear anything in that section and start over.

 

Under FEDERAL start in the

  1. Income section
  2. Scroll to investment income
  3. Select Stocks ...
  4. YES to Did you sell any investments
  5. YES to Did you get a 1099-B
  6. Choose I'll type it myself
  7. Now enter you Bank 
  8. and post your stock transactions.

Based on the dates purchased and sold the LONG and SHORT term sales will be determined.

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Returning Member

having difficulty entering both short & long term 1099-B

I understood your answer concerning entering EACH of the short term transactions and EACH of the long term  transactions (letting the program figure out which were long term and which were short term.

However, I opted to enter the short term SUMMARY of the short term transactions, but there was no prompt to to enter the SUMMARY of the long term transactions. Is there anything I can do to accomplish this?

Thanks,

Barry

Employee Tax Expert

having difficulty entering both short & long term 1099-B

You need to make separate form 1099-B entries for each group of investment sales, one for short term and one for long term in this case. The total of all the entries will agree with the total you have listed on your 1099-B form.

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