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bnance171
New Member

What is a consolidated tax bill?

 
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2 Replies

What is a consolidated tax bill?

I don't know.  But are you asking about a consolidated 1099 from investment accounts?  

DawnC
Employee Tax Expert

What is a consolidated tax bill?

Do you mean a 1099 consolidated tax statement?   A 1099 consolidated tax statement combines multiple 1099 forms—1099-INT, 1099-DIV, 1099-OID, 1099-B, and/or 1099-MISC—into a single, multi-page document.  Some consolidated statements include all 5 forms, while others only include the 1099s the IRS requires for that client.

 

You should get yours by late February.  It's not uncommon to get a second, corrected statement in March or even April, especially if you have overseas investments.

 

There is no single screen in TurboTax where you enter a consolidated statement.  Rather, enter each 1099 form on its own dedicated screen, but only if it contains non-zero amounts.    For example, if you see dollar amounts in Form 1099-B on your statement, but the other four 1099 variations only contain zero-dollar amounts, only enter the 1099-B in TurboTax.

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