1099-B gains/loss

Forum|Forum|4 years ago
April 15, 2022
1 reply
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So in researching this please help me in my thinking. I am assuming that if the box 1e cost is less than 1d net proceeds that means that the gain/loss box amount is a gain. Is that correct? If it is then from my research, I need to put that gain in interest income and add the same amount onto the 1e cost amount and put that in the box for 1099-b info. Is that correct? Thank you for your help as we are all working to get this done.

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@mecarty

NO. gains shown on 1099-B is capital gain, not interest.

Enter the 1099-B.

TurboTax puts the results in the correct spot on your tax return.

mecartyAuthor

I got that information to put it into the help box for gains. I am not sure if it is a gain or a loss it does not say. It is just an amount under the Gain/Loss box, (no number or letter for the box itself). So I put in all the other information in 1a 1b 1c 1d net proceeds and 1e cost or basis, but where do I put the amount under the gain/loss box. According to the help box I need to put it somewhere? I have 3 of these, 1 short term, 2 long term.