How do I enter my 1099-B stock sales information?

[jolcarpe]

In the wages and income section, is it expecting me to go line by line in the "Review your National Financial Services LLC sales" and edit the cost basis? 

[DianeW777]

It depends. If you have already imported or you need to review certain transactions you can use the following steps to edit and/or review your cost basis. Select 'Edit' beside each sale you want to review or verify.

• Where do I enter or import my 1099-B?

[jolcarpe]

Thank you! A couple other questions:

There are several rows in that section, I assume all equate to individual ESPP sales that I executed last year. Not all of them say "needs review", but I assume I would want to check all of them to make sure the "adjusted cost or other basis" matches what is on my 1099 B Supplemental Information form, correct?

Secondly, this "supplemental information" section on my 1099-B says "this information is not reported to the IRS", so, what is the correct selection to make in the drop-down box for each sale on Turbotax? Is it, "long-term basis not reported to IRS (non-covered)"? 

[DianeW777]

Yes, I would advise to check then for the correct cost basis. Yes select 'long-term basis not reported to IRS (non-covered)', assuming all of the stocks are considered long term holding period.

 Holding Periods:

• Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
• Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

[jolcarpe]

thank you! you've answered all my questions. 

[DianeW777]

Thank you for participating today!