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marilynmacdonald
New Member

I received income from stock I sold, I have a 1099-B, I entered the information, why isn't the amount added to my total income?

 
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Fern
New Member

I received income from stock I sold, I have a 1099-B, I entered the information, why isn't the amount added to my total income?

Form 1099 B is used to report gains and losses from the brokered stock transactions. If you have a gain on the sale of a stock, it would be included in the computation of taxable income.

If you are a tax payer in the 10% or 15% bracket, you may not be paying taxes on your long term capital gains. A capital gains tax is calculated once you reach the 25% tax bracket.

See the article below for more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Capital-Gains-and-Losses/INF120...

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1 Reply
Fern
New Member

I received income from stock I sold, I have a 1099-B, I entered the information, why isn't the amount added to my total income?

Form 1099 B is used to report gains and losses from the brokered stock transactions. If you have a gain on the sale of a stock, it would be included in the computation of taxable income.

If you are a tax payer in the 10% or 15% bracket, you may not be paying taxes on your long term capital gains. A capital gains tax is calculated once you reach the 25% tax bracket.

See the article below for more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Capital-Gains-and-Losses/INF120...
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