Ask Experts Questions for FREE Help !
Ask
    Inspired's Avatar
    Inspired Posts: 178, Reputation: 22
    Junior Member
    		  
    #1

    Feb 6, 2008, 01:26 PM
    1099-b for tax return
    I received a 1099-b from my company because the broker had sold some of my stock to pay off taxes. I don't know what to do with this form as I am filing my own taxes via turbo tax. Please help.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Feb 6, 2008, 01:52 PM
    You don't need to do anything with the 1099-B, except to make sure that you have entered all your stock sales on Schedule D and that the sales amounts equal what your broker reported on y;our 1099-B. The IRS looks to see that the total of all sales you report on Schedule D equals the sum of all 1099-B forms you receive.
    Inspired's Avatar
    Inspired Posts: 178, Reputation: 22
    Junior Member
    		  
    #3

    Feb 6, 2008, 04:15 PM
    Ebaines, Thanks for the info. I have not sold any stock in 2007. This is company stock which I rarely mess around with. Since I did not sell any stock, do I need to still fill out a schedule D for the 1099-B (even though the stocks were sold for tax reasons)?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1099-C Appears after tax return [ 2 Answers ]

I filed my 2005 taxes, received my return, NOW I receive a letter from the IRS advising that I owe money for an undeclared 1099-C. This 1099C "income" raised my earned income and now I owe the IRS money. I was not aware that when you settle a dept the unpaid portion needs to be declared... how...

Confusion with return amount with 1099 MISC [ 1 Answers ]

Hi I was contracted for part of 2006. My total earnings for the year were reported on a single 1099-MISC and were for the amount of $4,150 and I had no withholdings what so ever. Also my first son was born in September of 2006. I used one of the online tax preparation programs that I got...

Tax Return form and Tax Status-F1 to H1B [ 1 Answers ]

Hi Dear, I am Korean who grew up in Santa Cruz, Bolivia. I am Korean citizen, but I hold Bolivia residency. I came to California on February 16, 2001 under B-1 visa. After 5 weeks, I went back to Santa Cruz, Bolivia in order to get F-1 visa. Then, in June 02, 2001 I came back to California...

How I can fill tax return wihtout my wife ITIN # and show her at my tax return [ 4 Answers ]

I'm a h1 visa holder living New York and my wife joined with me she has h4 visa When I fill this year tax return I want to get benefit how I can get ITIN # for her Yes I know about W-7 form but it's very confision Give me some info please step by step Thanks

H1B Taxes Joint Return 1099-INT [ 1 Answers ]

I have been on F-1 visa since Aug 2001, and then on F-1/OPT till Feb 2005. I converted to H-1B on Mar 1st 2005 which I still maintain. I got married Feb 2006 and my wife is also currently on H-1B. I also have some interest income (1099-INT) during 2005. 1. Do I meet the Subst. Presence Test to...

View more questions Search