Reporting Betterment Tax Form

[Dmitry]

The 1099-DIV Betterment form has several sections:
2021 Form-B Short-Term Summary
       This section has many Various in the Amount Column.   

2021 Form 1099-B Long-Term Summary

       This section has many Various in the Amount Column.
2021 Form 1099-DIV Summary
       This section has more "understandable" value in the Amount column.
       For example, number is 1a, 1b, and so on.

Question.  Do I need to enter the 1099-B?  and if yes, Short-Term or Long-Term.  And what to enter when the value is Various?
Or, should I ignore the 1099-B and only entry the 1099-DIV Summary?

Thank you.

[MinhT1]

The forms 1099-B reports your sales of stocks in 2021. You have to enter them on your tax return.

You can enter your form 1099-B by following these steps:

1. In TurboTax, open your tax return
2. Click on Federal in the left-hand column, then on Wages & Income on top of the screen
3. Scroll down to locate the section Investment Income and click on Show more
4. Click Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other​​​​​​​
5. You should the information as presented on the forms 1099-B
6. When form 1099-B lists the dates as Various you can enter the same.

[Dmitry]

Thank you for your reply.

Do you know of TT has ability to connect to the Betterment and get the necessary information electronically?

(Of course, if I provide TT the username and the password)

[Cass0317]

Yes, Betterment is a TurboTax Import Partner so you may import your tax information into TurboTax.

For more information, please see the TurboTax FAQ below:

• Where do I enter a 1099-B?
• How do I import my 1099s?

[Dmitry]

Thank you!