1099s; Forms List

Woo hoo! I won't enter 1099s or 1098s anymore - that will save a lot of time!

What about 1099R-s, W-2s and anything else that I've been wasting time entering?

Thanks.

1099-SAs, SSA1099s ...?

I do fill out the W2s, 1099-SA and SSA1099 worksheets.   

W2s have too many different things on them that flow to different places, the 1099SA figures might be able to be entered on the 8889 itself, but its easy to just use the worksheet, the SSA1099 lets you put the medicare ins and fed withholding all on one sheet and it puts it where they go, so its easier to use it that jump around entering those in other places.

I summarize stock sales (ST, LT, covered and not covered, etc) from 1099B on Sch D though, I dont enter each and every sale.  Many people scan and attach the actual 1099B to the return, but I never have.

The only time I do enter the actual 1099MISC is if its got federal or state withholding on it, the program likes it better when withholding is linked to a tax document.

Thanks, Lisa. That all makes sense.

I summarize stock sales ST and LT covered on the summary lines provided on the Sch D input screen.

I would love to get away with entering one line for all the ST and LT non covered stock sales. What do you enter in the Description of Property section of the Sch D input screen for the total non covered stock sales?

Thanks.

I separate entries out by brokerage (because thats just how my brain works  LOL) so 'Schwab LT Non Covered Transactions'  then in the box for Brokerage I put the Brokerage Name and Account Number, Sch D has that 1099B Reconciliation Smart Worksheet right below the entry boxes that will show the gross proceeds for each account and I can cross match to make sure my gross proceeds for each 1099B match up and avoid the dreaded CP2000 notice.

Thanks so much, Lisa.

I wonder why PS doesn't have a summary line for non-covered like they do for covered transactions since the IRS doesn't require non-covered to be reported separately?

Ive stopped asking why and just work with what Ive got!  🙂

I guess we have to live with that. 🙂

Thanks.

Well I have had the IRS come back to a client stating they did not include 1099's when they were totaled and entered???