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Subject Author Date
1099-B francesllee 04-02-2007
|--> Re: 1099-B Ira Smilovitz04-03-2007
|--> Re: 1099-B A.G. Kalman04-03-2007
|--> Re: 1099-B Rich Carreiro04-03-2007
|--> Re: 1099-B A.G. Kalman04-11-2007
Posted by Rich Carreiro on April 3, 2007, 1:48 am
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 francesllee@gmail.com writes:

> I received a 1099 from Wells Fargo Advantage Funds because
> we cashed out in 2006. 1099-DIV says that it's not
> applicable. I'm going to file a form 4797 for the 1099-B.

Why would you do a 4797 for this??

It'll be a sale of a capital asset, reported on Sched D.

> Do I have to file a 1040 because I'd rather file a 1040A?

Yes, you have to file a 1040. There's no advantage to
filing a 1040A in any event, by the way. Sure, it has
fewer lines than a 1040, but one can simply skip the
inapplicable lines on 1040.

--
Rich Carreiro rlcarr@animato.arlington.ma.us

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
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Posted by A.G. Kalman on April 11, 2007, 11:28 pm
Please log in for more thread options
 francesllee@gmail.com wrote:

> I received a 1099 from Wells Fargo Advantage Funds because
> we cashed out in 2006. 1099-DIV says that it's not
> applicable. I'm going to file a form 4797 for the 1099-B.
> Do I have to file a 1040 because I'd rather file a 1040A?

The 4797 is used for the sale of business property. It
appears that you have the sale of securities (mutual funds).
That gets reported on Schedule D of Form 1040.

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Rod on April 11, 2007, 11:28 pm
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> I received a 1099 from Wells Fargo Advantage Funds because
> we cashed out in 2006. 1099-DIV says that it's not
> applicable. I'm going to file a form 4797 for the 1099-B.
> Do I have to file a 1040 because I'd rather file a 1040A?

you would use schedule D not 4797 and yes you would have a
1040

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>


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