Brokerage Statement

[michaelr944]

My brokerage statement lists specific schedules, parts and lines to input figures.  How do I get to a screen that will allow me to access schedule B for this purpose?

[KarenM90]

The online version of TurboTax uses a series of questions to complete each required Schedule and Form.

To enter the 1099-INT (Interest Income) and 1099-DIV (Dividend)  Information, under Income & Expenses or Personal Income, scroll down to Interest and Dividends, Choose Start and follow the on-screen prompts.

To enter 1099-B (Sales of Securities or other Assets) under Income & Expenses, scroll down to Investment Income and choose Stocks, Mutual Funds, Bonds, Other.

[VolvoGirl]

You might have a consolidated statement. That will have sections for 1099-Int and 1099-Div and 1099B. You need to enter each section in the right place.  So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales.

If you have any 1099B for investment sales you will need to use the Online Premier version.

[michaelr944]

Thank you for your response.

I reallize that the information I provided was inadequate.  I understand about consolidated forms where you just input the figures from box 1, box 2, etc.  However, the form from Key Private Bank just lists the Income and tells you where to put the figures on Schedule B or D.  It lists qualified dividends but does not list ordinary dividends.

Is there a way to just go directly to Schedule B or D and directly input the information?

[VolvoGirl]

There is Forms in the Desktop program.  But even then you should not enter directly on them.  Does your form say any 1099 on it?  Is it a schedule K-1?  I would look online and see if they have any 1099 pdf.  Or ask your broker what to do.  What kind of account is it for?  If it is for an IRA or 401K or retirement you do not enter it.

[michaelr944]

Thank you for the response.  It is actually a Schedule K-1 and I managed to figure it out.

[VolvoGirl]

Did you enter it here?

To enter a K-1 go to
Federal on Left
Wages and Income at top
Then scroll way down to Business Items
Schedules K-1, Q - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

Enter each k-1 separately.

ps....you don't enter K-1s you get for IRA, 401K or retirement accounts.

[michaelr944]

Yes I did.  Thank you.  It was a big help.