Investment

Forum|Forum|4 years ago
February 4, 2022
1 reply
0 views

1. What do I report from the 1099B? Do these amounts flow into a form 8949?

2. In the documents our broker provided, there is a listing of Fees & Expenses. Are any of these deductible?

Let me know, please.

Thanks!

John Walter

D

DianeW777

Yes, the amounts will flow to the Form 8949 once the entries are made for the Form 1099-B. TurboTax will do this for you automatically.

Do I need to fill out Form 8949?

Yes, the fees and expenses can be used to reduce gain IF box 6 on your form has a check mark in 'Gross proceeds'. If 'Net Proceeds' is checked then the fees have already been used to reduce the Proceeds in box 1d.

Where do I enter Form 1099-B?

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J

JohnfromMDAuthor

Employee

In response to your reply on the 1099 (I meant 1099-DIV), the issuer provides a summary document. Number 6 does not have a place for Gross Proceeds. There is a place for an amount and it is $0.

VolvoGirl

Employee

The prior answer was for form 1099B for Sales. If you have a 1099 Div just enter it. Do not enter zeros. There would not be a gross proceeds for dividends. Dividends go on Schedule B if they are more than $1,500.

Enter a 1099-Div under

Federal Taxes tab

Wages and Income

Interest and Dividends

Dividends on 1099-DIV - Click the Start or Update button