How do I report stock sales if I didn't get a 1099b?

Forum|Forum|5 years ago
February 17, 2021
5 replies
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I sold stock through Robinhood in 2020 but because I didn't meet a certain limit, they didn't send me a 1099b. I know I still have to report it but I don't know how.

TurboTax Premier Online

RayW7

A 1099-Bit is not required to enter the stock sale and associated capital gains. Use the instructions in the link below and when asked if you received a 1099-B, answer NO.

Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities. Here's where you enter or import your 1099-B (even if you did not get one) in TurboTax:

Open (continue) your return if it isn't already open.
In TurboTax, search for 1099-B and then select the Jump to link in the search results.
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
- If you see Here's the info we have for these investment sales, select Add More Sales.
Answer NO to Did you get a 1099-B or brokerage statement for these sales? Or answer YES if you want to try to import it.
Follow the instructions.

Related Information:

ariel6

I live abroad, and my local broker does not issue form 1099-B. Therefore, I do not have a 1099-B. In order to file my stock gain/loss without form 1099-B, I followed the steps above. Yet I did not see the question in step 4 (Did you get a 1099-B or brokerage statement for these sales? ). I was still required to upload a 1099-B PDF which I do not have.

gloriah5200

You can upload the worksheet as a pdf that you have kept for your own records that contains the transactions that would normally be reported on 1099-B.

You can even attach a note to that worksheet why you did not receive a 1099-B.

4244WiHu

Need info on reporting stock sale without 1099-B

DianeW777

A document is not required to report your stock sales. You will enter the sale as if you had one by entering the company, the stock symbol or name, number of shares (20SH XYZ) and the rest of the details of the sale.

Select to 'Type it myself' and do not choose any upload option.

Open (or continue) your return if it isn't already open
Select the magnifying glass, search for 1099-B and then select the Jump to link in the search results
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you see Your investment sales summary, select Add More Sales
On the OK, let's start with one investment type screen, select the category that applies to your situation and Continue
Answer No to Did you get a 1099-B or brokerage statement for these sales?
At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself)
Answer the questions about your 1099-B
- Select Stock as the type and be sure to select the appropriate way you received the investment.

Form 1099-B is included in TurboTax Premier, TurboTax Live Premier, Self-Employed, and TurboTax Live Self-Employed (online) and in all personal CD/Download versions of TurboTax.

@4244WiHu

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MichaelFF

After completing step 4 by selecting the "Stocks, Bonds, Mutual Funds" option, the next screen does not contain a prompt with "Did you get a 1099-B or brokerage statement for these sales?" . Rather, it takes me to the "Let's import your tax info" screen. After selecting "I'll Type it Myself" to advance to the next screen, I am prompted with a screen that says "Which bank or brokerage sent you a 1099-B for these sales?".

There is no option to indicate that I did not receive a 1099-B for these sales, and the screen will not let me advance unless I write something in the field labeled "Bank or brokerage". For now I'm just writing "no 1099-B received" for this case.

ThomasM125

If you didn't receive a form 1099-B, then you should enter the name of the company that sent you the investment sales proceeds. As a practical matter, the name will not appear on your tax return, so it is not of critical importance.

@MichaelFF

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Rose77

I am having a similar problem as "MichaelFF". In my case, I need to writeoff a worthless private stock I bought so I did not receive a 1099-B. It looks like the latest online version no longer asks if you received a 1099-B. I typed the information in myself and click continue which then takes me to the summary of my investments, but then it shows up as a 1099-B on Turbotax along with the investment accounts for which I DID receive a 1099-B (even though I did not get a 1099-B for this worthless stock) so my concern is that Turbotax will be reporting it as a 1099-B when I did not get one and then will the IRS take issue with it because it is listed as a 1099-B and they will not have received one either since I did not receive one. Thanks for the help!

PattiF

You would enter all of the information as though you did have a 1099-B with worthless as the description and December 31, 2021 as date sold.

When entering the information, be sure to select that you did not receive a 1099-B form

You can deduct worthless stock only in the tax year it becomes completely worthless. This normally happens when the corporation files for bankruptcy, stops doing business, and has no assets. Financial difficulties won't make a company's stock worthless unless there's no hope that the company will pull through.

Enter a worthless stock like any stock sale but with a sales price of zero and the word worthless in its description. Enter the correct cost or basis, date acquired, and December 31 as the date sold.

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PattiF

You're welcome!

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chris_or

Hi folks - I received a 1099-B from etrade, but it only had 4 out of 10 "short noncovered" sales in 2023. The 4 reported on 1099-B were all gains; the 6 not reported on my 1099-B were all losses. Could this have anything to do with them not being reported on? I know I need to report all 10 sales but why would my 1099-B not have them? And do I need to report them differently?

MonikaK1

You might check to confirm that you have all of the pages of your Form 1099-B. If all of the sales transactions were through E*Trade, they should all be reported on the form.

If you are looking at a paper statement and something appears to be missing, find the statement in your online account or contact the company.

Report all of the sales transactions in the Investments section of TurboTax, regardless of whether there was a gain or a loss. If you acquired the stock outside of E*Trade, enter your correct cost basis.

See this help article and this tax tips article for more information on entering stock sales in TurboTax.

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