Question

Is the information on the year end report turned in to the IRS?

Forum|Forum|5 years ago
April 13, 2021
1 reply
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I am trying to figure out if I need to report the capital gains and losses.

TurboTax Premier Online

Please clarify - what "year-end report" are you referring to?

If you had capital gains and losses, you need to report them on your tax return - they would have been reported to you don Form 1099-B.

If you received a "year-end summary" from your brokerage or other financial institution, it likely included a "consolidated 1099 Statement" with your official copies of 1099-INT, 1099-DIV and 1099-B. All of those forms need to be reported on your 2020 tax return.