Re: Form 1099-B, Proceeds from Broker and Barter Exchange Tra...

1099-B Proceeds from Broker and Barter Exchange Transactions reports stocks, commodities, debt instruments, options and many other financial instruments in addition to cryptocurrency.

 

In TurboTax Online follow these steps:

 

1. Down the left side of the screen, click Federal.
2. Down the left side of the screen, click Wages & Income.
3. Click the down arrow to the right of Investments and Savings.
4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
5. At the screen Let's finish pulling in your investment income, select Add investments.
6. At the screen Let's import your tax info, select Enter a different way.
7. At the screen OK, let's start with one investment type. select the appropriate investment.

In TurboTax Desktop follow these steps:

 

1. Across the top of the screen, select Federal Taxes.
2. Across the top of the screen, select Wages & Income.
3. Click I'll choose what I work on.
4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
5. At the screen Let's finish pulling in your investment income, select Add investments.
6. At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
7. At the screen OK, let's start with one investment type. select the appropriate investment.

Be advised that TurboTax Deluxe will need to be upgraded to report an IRS 1099-B Proceeds from Broker and Barter Exchange Transactions.