If you are unable to download the IRS 1099-B information from your broker, you may consider reporting summary information.
Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
You will enter the summary info instead of each individual transaction. Follow these steps.
- Select Federal Taxes across the top of the screen.
- Select Wages & Income across the top of the screen.
- Select I'll choose what I work on.
- Scroll down to Investment Income.
- Click to the right of Stocks, Mutual Funds, Bonds, Other.
- At the screen Let’s finish pulling in your investment income, select Add investments.
- At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
- At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds and select Continue.
- At the screen Which bank or brokerage is on your 1099-B, enter the information. Continue.
- Do these sales include any employee stock, enter No.
- Do you have more than three sales, enter Yes.
- Do these sales include any other types of investments, enter No.
- Did you buy every investment listed, enter Yes. Continue.
- On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
- On the screen Look for your sales on your 1099-B, select Continue.
- At the screen Now, enter one sales total, enter the information. Continue.
- Select Add another sales total as necessary. Continue.
- You will mail a paper copy of the IRS form 1099-B to the IRS.
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