turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I've recieved a 1099-DIV, INT, MISC, and B from DriveWealth LLC and all line entries are $0.00. Do I need to enter anything in TurboTax?

I received a Form 1099 Composite that had a page with 1099-DIV, -INT, -MISC, and -B with every line item as $0.00.  

There's a second page showing "Summary Of Sale Proceeds" and that shows a Total Short-term, total Net Gain or Loss of -5.41.  Total Long-term is $0.00 and Total Undetermined-term is $0.00.

There's a third page showing "short term transactions for covered tax lots, report on Form 8949, Part I with Box A checked" which does show 1 entry (for that -5.41).  It also has infor for box 2, 5, 6, 12.

What would I need to enter in TurboTax?  I started entering these as $0.00 everywhere but when I got to 1099-B, TurboTax wants me to upgrade to Premium.  I'd hate to upgrade only to report $0.00 everywhere.  Or am I wrong?

FYI, this is for my daughter's Greenlight application / account, which is under my name, and managed by DriveWealth.  The app lets her track chores to earn an allowance and also start investing in stocks & ETFs.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JamesG1
Employee Tax Expert

I've recieved a 1099-DIV, INT, MISC, and B from DriveWealth LLC and all line entries are $0.00. Do I need to enter anything in TurboTax?

Would not enter $0 documents into the software but would retain the paperwork should the tax authorities have questions in the future.

 

The entry for $-5.41 has likely been reported to the IRS.  If the entry is not reported on the tax return, it is possible that they will have questions about the transaction at a later time.

 

TurboTax Online requires version Premium to report IRS form 1099-B.  See this comparison.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies