It's really that simple: I have the 1099B data entered (it took a long time) but it says it is in "No Financial Institution" How do I enter my Broker name and Acct # without typing everything in again?
If you've got everything entered properly then I'd say "leave it be." The broker name and account number are there entirely for your own convenience such that if you have a lot of accounts at a lot of different brokers and want to look at some particular trades they are easier to find. The broker name and account number appear nowhere in the income tax return.
Tom Young
If you've got everything entered properly then I'd say "leave it be." The broker name and account number are there entirely for your own convenience such that if you have a lot of accounts at a lot of different brokers and want to look at some particular trades they are easier to find. The broker name and account number appear nowhere in the income tax return.
Tom Young
I am sure that the IRS receives a corresponding statement from my broker. I'd want my return to match their info. I have been using TurboTax for over 10 years. I found nowhere to enter the broker name this time. I had no problems entering the other data.
Yes, Tom Young is correct. The broker's name doesn't appear anywhere on your tax return, or the supporting information sent to the IRS in the e-file.
This feature is purely for your own convenience because it is hard check your transactions if you have more than one 1099-B.
You are correct that the IRS receives a 1099-B from your broker with their name on it, but they use the numbers to valid your transactions, not the broker's name.