Question

Do we need to worry about capital gains if we did not receive a 1099-B for our account with Vanguard?

Forum|Forum|6 years ago
May 26, 2020
1 reply
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The list of account activity shows two funds with capital gains, but there is no 1099-B.

TurboTax Premier Online

Employee

You only receive a 1099-B when you sell the stock and realize the gain or if you had taxable dividends that would be reported on a 1099-DIV.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Hal_Al

Employee

If you had taxable dividends, or Capital Gains Distributions (CGD) , in a mutual fund, it will be reported on a 1099-DIV, not a 1099-B. Dividends are in boxes 1a & 1b and CGD in box 2a.

It does need to be reported. TurboTax will pick it up from the 1099-DIV and enter both in the right places. CGD and "qualified" dividends are both taxed at long term capital gains tax rates.