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gfpstaxes
Level 5
March 24, 2020
Question

Where do I enter income from mortgage based securities reported on a 1099-B?

  • March 24, 2020
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1 reply

IRonMaN
IRonMaN
Level 15
March 24, 2020

1099B relates to sales of investments.  Those get entered on schedule D in ProSeries.

Slava Ukraini!
    G
    gfpstaxesAuthor
    Level 5
    March 24, 2020

    I know that's where they usually go, but I wanted to check on these:

    They are Fanny May mortgage based securities and the income has nothing to do with sales of stocks or bonds. They are payments made to the taxpayer when the mortgage's payments (on their principle) are made.

    So there is no indication of any of them being short or long term and there is 0 basis listed for all the transactions.

    Any thoughts about those?

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    March 24, 2020

    How is it shown on the 1099B?  is it listed as gross proceeds? 

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