multiple 1099-b

robm

How do I handle multiple 1099-b forms? Do I total all the proceeds and cost basis' and enter each total sum?

MatthewD

Hello robm,

No, you shouldn't total all the proceeds and cost basis from multiple 1099-B forms and enter them as one sum. Instead, you'll need to enter each 1099-B separately in the software.

Here's how it generally works:

Navigate to the Income section and select the Investment Income screen. After entering the first 1099-B, you'll see an option to indicate that you have additional 1099-B forms to enter. Simply repeat this process for each 1099-B you received.

Entering them separately ensures that all the specific details from each form—such as the type of transaction, holding period, and any adjustments—are properly reported on your return. This is important because different transactions may have different tax treatments.

If you have a consolidated 1099 from a brokerage that includes multiple transactions, you can enter those individual transactions as they appear on the form.