Entering 1099-B transactions

Forum|Forum|6 years ago
April 16, 2020
5 replies
36 views

Does each individual sale reported on the 1099-B have to be entered or can a summary amount between long term and short term be entered instead if cost basis is reported to the IRS?

ProSeries Basic

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Best answer by IRonMaN

You can use the totals ----------------- unless you want to give your fingers a good aerobics work out and enter each sale.

IRonMaNAnswer

Level 15

You can use the totals ----------------- unless you want to give your fingers a good aerobics work out and enter each sale.

Slava Ukraini!

RollTide68

Level 7

If there is a large number of transactions I will group them by totals:

Short Term Covered

Short Term Uncovered

Short Term not reported

Long Term Covered

Long Term Uncovered

Long Term not reported

J

janey2Author

Level 2

Thank you so much for your help!

IRonMaN

Level 15

You betcha!

Slava Ukraini!

itonewbie

Level 15

One notable exception to entering the totals would be where adjustments are required as F.8949 will be needed (e.g. Wash Sale). Even then, you can attach the statement and ask the IRS to refer to the attachment by checking an option on the input screen.

---------------------------------------------------------------------------------Still an AllStar

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