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Posted by az willie on February 8, 2008, 11:57 pm
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>>
>>> az willie wrote:
>>>> Every year TT has had me enter info from my broker's 1099-B form.
>>>>
>>>> This year I could not find a place to enter that data.
>>>>
>>>> I emailed and they said I would get an email within a few minutes
>>>> .... didn't happen.
>>>>
>>>> So today I called and, although they said it was a 60 minute wait,
>>>> they answered in less than 10 minutes...not too bad .... so far so
>>>> good.
>>>>
>>>> Girl tried to be helpful, but seemed to lack the mental horsepower
>>>> to understand the situtation. Finally she seemed to understand and
>>>> although she looked through both TT Deluxe forms and TT Premier
>>>> forms she couldn't find a 1099-B either.
>>>>
>>>> Finally she got a supervisor who claimed that it was no longer
>>>> required to enter the data from the broker's 1099-B.
>>>>
>>>> I find this hard to believe because in the past the program always
>>>> compared the amount on the brokers 1099-B to the amount on the
>>>> Schedule D and they had to match.
>>>>
>>>> The broker doesn't spend the money to send the form to me and the
>>>> government for nothing.
>>>>
>>>> I'm sure, if my return was picked to be checked, they would compare
>>>> the 1099-B the broker filed against what my schedule D shows.
>>>>
>>>> Anyone know if it is true and it is no longer necessary to enter
>>>> the broker's 1099-B info?
>>>>
>>>> If not, does anyone know where to find the 1099-B form, in either
>>>> Deluxe or Premier?
>>>>
>>>> I don't want to buy Premier if I don't have to ... but will if the
>>>> form is there.
>>>>
>>>> I have a feeling the missing 1099-B form is a serious bug.
>>>
>>> I have Deluxe, and of course you have to enter the data from your
>>> 1099-B! Did you answer the original question "Did you sell mutual
>>> funds or stocks during the year"? Possible if you didn't check YES,
>>> the interview process skips this. Also, simply go to the box SEARCH
>>> TOPICS OR FORMS and you'll see it listed in the drop down panel.
>>>
>>
>> ===============
>> Yes I do see it there, and when I click on it it takes me to the
>> Schedule D where you enter all your transactions. It does NOT take me
>> to a form to enter the brokers name and federal id # and proceeds
>> from all sales which is the figure it used to use to compare to the
>> total on the schedule D.
>>
>> When I go to the forms tab and select open form I get a list of forms
>> and 1099-B is not on the list.
>>
>> Entering the proceeds shown on the 1099-B on the Schedule D would be
>> wrong wrong wrong wrong. That would just double the total proceeds
>> ins tead of comparing the two figures.
>>
>> I imported all my stock transactions into my Schedule D when I
>> started the process. I chose to Select Specific Topics when I started
>> the return rather than endure the unending questions about stuff that
>> has no relevance to my return at all. After several years of using TT
>> I have a pretty good idea what I have to do.
>>
>> Perhaps if I started another return and went through the agony of all
>> that crap it would present me the form but I doubt it because
>> according to the list of forms there is no 1099-B in there.
>>
>> The girl at TT didn't find the 1099-B form listed in either Deluxe or
>> Premier editions and, after about an hour of her trying to figure out
>> where to enter the info she finally gave up and got a supervisor who
>> told her it was no longer required to enter the 1099-B info.
>>
>> Which I think is a crock of (*it.
>>
>> Maybe I will call the IRS next week and see if I can get through the
>> phone gauntlet and get a live human being who can maybe tell me if
>> the supervisor is right or not. Hell, I'm retired I got nothing else
>> to do but fight the phone all week trying to get through the maze :)
>
> You MUST enter your 1099-B info which is nothing more than a record of
> your of the stocks, bonds, mutual funds, etc that you sold.
>
> Another caveat, make sure you enter the dates and lot sizes EXACTLY as
> shown on the 1099-B. Two years ago I received a bill from the IRS for
> over $40K. The reason was that when they compared the broker data and
> the data on my return, they didn't match. To minimize entries I
> lumped some lots from a single sale together therefore causing the
> data to not match. The sum total of the stuff I entered was correct
> but it didn't jive with the way the broker reported to the IRS.
>
> Gave me a sweat for a while and long explanation to the IRS. All was
> finally accepted when I entered the data to match "exactly" the way
> the brokers reported to the IRS.
>
>
>
==============
Not quite. The 1099-B info is more than a record of your sales. It has
the broker name and their federal id # as well as the sum of the proceeds
from your trades. Depending on the broker there can be other info also.
The Schedule D is where you enter the record of your trades ... not the
1099-B.
We are in agreement though that the 1099-B has to match the sums on the
Schedule D.
I received an email awhile ago from the girl who was trying to help me
and she sent me a phone number to call another department.
I gotta say she tried hard to help but it was obvious she was in over her
head when it came to TT and investments. I have grave doubts about what
her supervisor told her to tell me also.
So next week I will call the number she sent and see if I can get better
resolution of the question.
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