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If you received a Form 1099-B that should not be taxable, you still need to report it on your return because the IRS also received your Form 1099-B, so they know what you should be reporting.  You can enter the same amounts for sales proceeds and cost or other basis, so that your Form 1099-B gets reported, but the gain/loss is zero.  If you need more information about Form 1099-B, go to the IRS Instructions for Form 1099-B.

Report your Form 1099-B, and enter the same amount for 1d. Sales proceeds and 1e. Cost or other basis (if you need help reporting your Form 1099-B in the TaxAct program, go to our Form 1099-B - Entering into TaxAct FAQ):

  1. From within your Form 1099-B, continue with the interview process until you reach the screen titled Investment Sales - Transaction Details.
  2. Click the data entry field below 1d. Sales proceeds, and type the amount.  Click the data entry field below 1e. Cost or other basis, and type the same amount.

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.


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