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Returning Member
posted Apr 4, 2022 2:42:10 PM

Reporting "Long-term transactions not reported to you on form 1099-B"

Hello,

 

I am trying to report a loss on an investment that the accountant advice was to report it on form 8949. They sent a screenshot where I had to select option F - "Long term transactions not reported to you on form 1099-B"

 

I am using TurboTax online. I searched the forum but the only thread I saw was not applicable to TurboTax online. 

 

I do not know how to get to a point where I can enter/report the non 1099-B loss. I have tried various ways:

 

1. "Investment and Savings" --> Add Investment --> "Enter a different way" --> ?? tried multiple options here, but could not make any progress.

 

Has someone gone through this and can help? 

0 4 3909
4 Replies
Level 15
Apr 4, 2022 3:04:51 PM

go to the stocks and bonds reporting section.

when you get there it will ask you if you have a 1099-B.

say NO.

 

You need all the details for that non-existent 1099-B from your own records.

Returning Member
Apr 4, 2022 3:11:11 PM

Here's the flow for me:

 

1. Wages and Income

2. Investments and Savings

3. "Add Investments"

4. "Lets import your tax info" - I click "Enter a different way"

5. "Choose an investment type" - I choose Stocks, Bonds

6. "Which bank or brokerage sent you a 1099-B for these sales?" - I tried entering "No Broker"

 

I couldn't find a place to say "No 1099-B"

New Member
Mar 15, 2024 6:22:44 AM

There is no way to add Long-term transactions not reported to you on Form 1099-B on the Form 8949. Very frustrating!! 

Expert Alumni
Mar 18, 2024 8:48:23 AM

In TurboTax Online Premium, enter an investment by following these steps:

      

  • Click on Federal down the left side of the screen.
  • Click on Wages & Income down the left side of the screen.
  • Scroll down to Investments and Savings and click the down arrow to the right.
  • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
  • You may have to click Add investments.
  • At the screen Let's import your tax info, click Enter a different way.
  • Click on Stock, Bonds, Mutual funds. Click  Continue.
  • At the screen Which bank or brokerage is on your 1099-B, enter the information. Click Continue.
  • Do these sales include any employee stock, click No.
  • Do you have more than three sales on your 1099-B, click No.
  • Do these sales include any other types of investments, click No.
  • Did you buy every investment listed on your 1099-B, click Yes.  Click Continue.
  • At the screen Now, choose how to enter your sales, select One by one.  Click Continue.
  • At the screen Look for your sales on your 1099-B, click Continue.
  • At the screen Now enter one sales total on this 1099-B, enter information. 
  • Select Long-term did not receive 1099-B form for Sales section title.
  • Click Continue.

 

@SSteacher