Attaching 1099-B for noncovered transactions.

Forum|Forum|2 years ago
March 21, 2024
1 reply
9 views

I have a 1099-B that shows sales with a basis that was not reported to the IRS, but the 1099-B does show the details of the transactions with the cost basis. Is it correct that I need to attach the 1099-B to the return in this case? Do I do that by going to the "Electronic Return File Attachments" page and linking it as "11 = Sch D - Other"? Do I also need to attach it to the state return (California)?

I couldn't find any ProConnect instructions for this, so I'm just wondering if I'm doing this correctly.

Best answer by sjrcpa

If you're just entering totals then yes you need to attach the details.

The attachment is 8949 Exception reporting or something close to that.

sjrcpaAnswer

Level 15

If you're just entering totals then yes you need to attach the details.

The attachment is 8949 Exception reporting or something close to that.

The more I know the more I don’t know.

T

taxmo

Author

Intuit Community Champion

Ok thanks. Here is my updated understanding of what to do (documenting this here since it doesn't seem to be in the ProConnect documentation):

Enter the disposition as Date acquired/sold blank.
Override long or short term.
Schedule D -> Reported on: "1=Form 1099-B but basis not reported to IRS" (or option 2). Check "Summary from attached statement".
Have to attach transaction details. "Electronic Return File Attachments" page and linking it as "46 - Form 8949 Exception".

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