1099-b

[stevekaz]

Hi,

Vanguard doesn't send a 1099b if you have less than $10.00 in dividends and I can not import it.  I asked Vanguard how to manually fill out a 1099-b but they referred me to my account statements.  I now have the account statements but do not know how to mine them for the 1099-b info.  I have probably 30 statements and have tried to make sense of them but alas...  Is there some literature that explains the data mining?  I have to report the information but is it not worth learning about the 1099-b if I have less than $10?

[JohnW152]

You might look at the TurboTax Help article What is a 1099 consolidated tax statement? for guidance.

And, if you enter the phrase consolidated 1099 statement into a search engine, you should find some helpful information.

[VolvoGirl]

Did you sell any funds?  Dividends would be on a 1099 DIV not a 1099B.  Just look at your 12/31/23 statement.  It should have the year to date amounts and activity.  You don't need to report any IRA accounts.  Just the regular accounts and brokerage account if you have transitioned to Brokerage.  I finally transitioned to Vanguard Brokerage in 2023 for both my personal funds and my IRA account.  So I have 4 statements.  

What funds paid you dividends?  I can look at my 1099 and see if it just goes in box 1 or also as qualified in box 1b.

[stevekaz]

Hello Volvogirl,

I started a reply and realized I was such a newbie that I can not reasonably describe what I need.  I am composing a longer message to see if I can answer your questions and make sense about what i need.  Thanks for responding and further info to follow...

[stevekaz]

Hi Volvogirl,

I am a complete newbie and don't understand what I have. I have a brokerage account and an inherited brokerage account. The inherited IRA brokerage fund has 5 mutual funds. And I have a brokerage account that has a single stock. I took out an RMD from the inherited account and made no other changes to the accounts. I did not knowingly sell any units, just have the automatic activity performed by Vanguard. It looks like the RMD came out of one of
the mutual funds in the inherited account, so I have a 1099-R. If i understand correctly, the answer to your question about selling any funds is no. But I have documents that show dividend and re-investment activities for both brokerage accounts.
As I said, Vanguard is not going to send me a 1099-b or a 1099-div because i have less than $10 in dividends. On my inherited account, I see $824 listed as dividends on the "Dividends and capital gains distributions" statement along with $0 interest, 115.93 Short-term distributions, long term distributions and is labled NONTAXABLE.

If there is no reporting activity required on the IRA, then all I have to report is the single stock brokerage account which shows $4.42 in dividends which is labeled taxable. I hope this is the case but I don’t know if the dividend is qualified, nonqualified, and if there is any other info that should be on the 1099-b like date aquired, date sold, cost basis, proceeds, anything about a wash, really, the rest of the 1099-b form.
I also have the capital gains and dividend distributions sheet. I have no idea what to do with this.

I realize that I should be getting this information from Vanguard. but they just directed me to my statements.
Thank you.  BTW, A high school teacher of mine had an 1800e.  This was in the early 1970s.  It looked amazing.  I never got the courage to ask her for a ride.

[DianeW777]

The IRA will only be reported on Form 1099-R when a distribution is taken.  It is considered a retirement account and therefore you will not report any earnings such as interest or dividends separately from your RMD or total distribution.

Dividends and interest are not reported to you on a Form 1099-DIV or 1099-INT unless the earnings are at least $10 in the tax year.  Simply report those as though you did receive a statement in the appropriate category.

• Where do I report my 1099-R?
• Where do I report my 1099-INT?
• Where do I report my 1099-DIV?

That would have been a cool ride!

@stevekaz 

[VolvoGirl]

Ok you don't report anything from the inherited IRA account except for the 1099R RMD Distribution.  Did you get the 1099R form and enter it?  

On your single stock brokerage account did you get the December statement?  I'm looking at mine.  On my page 5 under Account activity there is an Income Summary with Year to date totals for Dividends, Interest, etc.  What categories do you have amounts in?  Oh, what single fund do you have?  If I have the same fund I can tell you if the dividend is qualified, etc.  

I don't think you need a 1099B  if you didn't sell anything.  Just the 1099 DIV for the dividend.