Form 1099-B - Entering Capital Gains and Losses in Program

The information from Form 1099-B Proceeds From Broker and Barter Exchange Transactions needs to be reported correctly in the TaxAct program so the data regarding a sale of an asset will be reported on Form 8949 Sales and Other Dispositions of Capital Assets, Schedule D Capital Gains and Losses, and Form 1040 U.S. Individual Income Tax Return, Line 7.

To report Form 1099-B in the TaxAct program:

  1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Click the Investment Income dropdown, click the Gain or loss on the sale of investments dropdown, then click Capital gain or loss (Form 1099-B).
  3. Click + Add Form 1099-B to create a new copy of the form or click Edit to edit a form already created (desktop program: click Review instead of Edit).
  4. Continue with the interview process to enter your information.

Go to IRS Publication 550 Investment Income and Expenses, for more information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.