In my 1099-B form, there is a sector for Federal/State Taxes Withheld. There is only information in Box 1a, Box 1C, Box 4 and Box 16. How should I enter them in Turbotax?

Forum|Forum|1 year ago
March 16, 2025
1 reply
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There is no information about Date Acquired (Box 1b), Proceeds (Box 1d) and Cost Basis (Box 1c).

JamesG1

Was there an actual sales transaction and the proceeds were directed to withholding taxes?

In TurboTax Online, Federal and state withholding tax not already entered on a W-2 or 1099 may be entered as follows:

Down the left side of the screen, click Federal.
Down the left side of the screen, click Deductions & Credits.
Click the down arrow to the right of Estimates and Other Taxes Paid.
Click the down arrow to the right of Income Taxes Paid.
Click the down arrow to the right of Other Income Taxes Paid.
Click to the right of Withholding not already entered on a W-2 or 1099.
Click Yes.

Retain the paperwork with your paper files that back up your income tax returns. A tax authority may have a question about the transaction at a later time.

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pic_spikkyAuthor

Thank you for your reply.

There are actual sales transactions. However, the date of the sales transaction and the date of withholding don't exactly match. So the withholding is in different sections of 1099-B form. I just followed your steps and entered them as one lump sum federal withholding.