Form 1099-B - Entering in Program

Capital gains and losses are reported on Form 1099-B Proceeds From Broker and Barter Exchange Transactions in the TaxAct program, and automatically flow to Schedule D and/or Form 8949. The 1099-B form you received might not report the date acquired or the cost basis, but you are responsible for that information, and you need it to properly report the transactions.

Entering sale dates for multiple stocks or funds: If you sold stocks, funds, or similar property acquired through several different purchases, report the sale on one form and enter "various" as the date acquired. You must indicate if the sale was a short-term or long-term gain or loss. If the sale included both short-term and long-term gains or losses, enter the sale on two separate Forms 1099-B. (In these instances, you can’t enter "various" as the date sold.)

To enter Form 1099-B into 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.

Related Links

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