Question

Do I have to claim a 1099-B of only $24.63 in gains? Where do I enter this on my tax forms?

Forum|Forum|5 years ago
May 11, 2021
1 reply
0 views

No text available

TurboTax Self Employed Online

Yes, you need to enter the information about sale that generated the gain even though it is only about $25. Without both the proceeds and the cost basis being reported to calculate the gain, the IRS would assume that the entire proceeds of the sale would be taxable and not just the $25 gain.

See the following TurboTax article for instructions: Where do I enter a 1099-B?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"