Question

Stuck at e-file with message "We need to make one more check" - empty 1099b fields?

Forum|Forum|3 years ago
April 19, 2023
1 reply
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Hello,

my 1099-b has several empty fields which I left empty on TurboTax desktop version (Windows) as well.

Now I am at the very last step - to e-file my taxed, and it won't go through. When I press to submit it, it says "Everything looks great on your return. We've double-checked it for accuracy and to make sure you got all tax break you deserve. But before you e-fil, we need a little more information that we didn't need earlier" and it goes back to check the several empty fields again.

How to get ignore this error and submit it?

Thanks!

T

tblk7525Author

Help!

J

JulieS

Yes, you need to fill in the empty fields either with zeroes, or the information from your records. This is true even when the fields are blank on your 1099-B.

You should go back and review the 1099-B section in TurboTax:

Select Federal, then Wages & Income.
Scroll down and look for Investments & Savings.
Expand the section and find Stocks, Mutual Funds, Bonds, Other and click on Start or Update to the right.
Click the down arrow to the right of your 1099-B and then click on Edit.
On the screen Review your (name) sales, look for the incomplete transactions and click Edit, or the pencil icon, to the right.
Fill in any missing information.
If your blank field is a date, check your records for the correct date, or enter Various.
If your blank field is the cost basis, check your records for the actual cost basis. You can enter 0 for cost basis, but that will make the entire proceeds amount taxable.
Repeat with each transaction that is flagged Needs Review.

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T

tblk7525Author

Thank you.

Regarding point #7 and #8: what will IRS check the records against if those fields are empty on 1099B? Is that a fault on the brokerage's document?

Regarding point #8, the stocks are automatically deducted from my payroll, it's very difficult to go one by one and find the cost of each one. What if I enter an approximate value? How will IRS verify that?