Question

If I have a foreign broker and it does not provide form 1099-b how do I submit information about this? There is no section "form 1099 is missing"

Forum|Forum|5 years ago
April 13, 2021
1 reply
0 views

I am resident and live abroad, so i have foreign broker(which don't provide 1099-b form). My broker's report shows only the total income and taxes paid in another country.
The site does not have a button "form 1099 is missing", I tried to delete the account and tried to pass it in different ways, it is not there.

TurboTax Premier Online

JohnB5677

Yes, you can file your stock trades without a 1099-B.

Income & Expenses

Scroll to Investment Income
Stocks, Mutual Funds, Bonds, Other
Add Sales
OK, what type of investments did you sell?
Select Other Continue
Follow interview to post your information

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

V

VaskuaAuthor

Thank you for answer! I kept your instruction and I also need 1099-B, because instruction in window "Now we’ll walk you through entering your sale details" say that I should use information from 1099-B about each deal.

My problem in what I have a lot of short-terms and I don't have form 1099-B with description each term, because my broker doesn't provide it.

How can I report information of stock income, if I can use only:
- volume (size) of my income;
- tax credit for this income;
- standard report about my broker account witch my broker provide me.

Please, if you know answer of this case, tell me what should I do.

DaveF1006

It depends. You will specific information to report this transaction. if you don't have it, you are going to need to rely on your best recollections.

When it asks for the 1099-B information, about the date sold, date acquired, how much you originally paid for them(basis), how much your sales are.
Under sales category, it's going to be short term sales, not reported.
Enter these sales one at a time so you won't need to send in a summary statement.
If you paid foreign tax, you will need to go to federal>deductions and credits>estimated tax payments>foreign taxes to claim the credit.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"