How to Report The Sale of Stocks, Bonds, Etc. From Form 1099-B

Form 1099-B

The sale of stocks, bonds, etc. is reported on Form 8949, which then carries to Schedule D.

Steps to complete Form 8949 and Schedule D for the sale of stocks

1. Click Add Form on the tax return toolbar. Then click the Index Tab.

2. Double click 1099B – Sale and Exchanges of Stocks, Bonds, etc.

3. In Box ABC, click Choices and select the applicable option.

4. In Description of property, enter a description.

5. In Date acquired, enter the date the taxpayer acquired.

• If the asset was acquired over various dates, enter VARIOUS.
• If the asset was inherited, enter INHERIT

6. In the Date sold box, enter the date sold from Form 1099-B, Box 1.

7. In the Sales price box, enter the amount from Form 1099-B, Box 2a.

8. In the Cost Basis box, enter the cost or other basis from Form 1099-B, Box 3.

9. If the cost basis on Form 1099-B is incorrect or the gain/loss needs to be adjusted, enter the adjustment amount in Adjustments to Gain or (Loss).

• If an adjustment amount was entered, select the applicable code from the Codes column.

10. The gain or loss calculates in column H and will carry to Schedule D. 

Article ID: 154
Created: Wed, Jul 20, 2016
Last Updated: Mon, Nov 7, 2016

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