Vanguards New Brokerage Summary Forms 1099 -B

Forum|Forum|1 year ago
January 31, 2025
2 replies
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I added the normal Reg 1099- Div Form from the 1st half of 2024 .

But don't know how are we to go about adding this new brokerage Summary Information is from the last quarter of 2024?

I have 3 funds listed on my Sch B from the first 1099 -B.

Are we too take the totals and add to each line like 1a , 1b and so on from the 1099 Summary papers? Example 1st $2,000.00 2nd $3,000.00= $5,000.00 .

Or do we add the new 1099 Summary page info separately like I did the 1st one?

If I do each fund will be listed on the sch B twice.

AmyC

Employee

Once you have your actual 1099-DIV, each entry will be once with the totals for the year.

You should receive one 1099-DIV from the brokerage that covers the entire year. You should not have a DIV from the first half of the year. The brokers are not required to issue the forms this early, so you may not have anything but your statements at this point. Wait for the form.

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VolvoGirl

Employee

A 1099-B is for Sales. Do you mean Schedule B for Interest & Dividends?
Did you transition from Vanguard regular account to the new brokerage account? I did in 2023. I got 2 1099 forms. The regular old 1099 with the funds listed and a new Consolidated 1099 Brokerage statement. You need to enter both. They are for different time periods.

The Consolidated 1099 will have sections for 1099-Int and 1099-Div and 1099B and maybe some other 1099s. You need to enter each section in the right place. So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales. I highlight each heading with a yellow highlighter to find them.

Landr42Author

Yes I did mean 1099- B for sales the last few years vanguard sold funds to get there account service fees they were charging us.

I had no say on this matter.

I have to pay taxes on something I didn't even collect.

Also in last quarter of 2024 they put us in the brokerage accounts.

So I did get 2 separate 1099 - Div.

I was able to import the brokerage in turbo tax .

But there's no other in the list to import my other 1099- div or 1099- B

so i wasn't sure with the reg 1099 - Div if I added the figures together or keep the 2 forms separate .

This year's.

They aren't much help.

VolvoGirl

Employee

I enter all mine manually. Yes you need to enter the other 1099 separately. Don’t add them together. How did you enter the old 1099 Div last year? If you can’t import it you need to enter each fund listed on it separately.

I had to pay the $25 fee too, to keep getting paper statements. Doesn’t matter for my IRA account, nothing to report for IRA. I’ll have to look up my regular brokerage account. I didn’t have a sale for that. I probably had enough cash in the sweep account.