1099-B

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  • #2252
    mike_stan
    Participant

    I received 3 1099-B’s from Vanguard for 2 mutual funds I sold. On all 3 1099-B’s it lists the same 2 mutual funds.

    1. I have a 1099-B with the those 2 mutual funds long term which the basis is not reported to the irs non covered box 5 checked and box E checked. There are proceeds and a cost basis listed for each and totaled.

    2. I have another 1099-B with the same 2 mutual funds long term where the basis is reported to the irs box 3 checked and box D checked.
    There are proceeds and a cost basis listed for each and totaled.

    3. I have another 1099-B with the 2 same mutual fund short term where the basis is reported to the irs box checked and box A checked.
    There are proceeds and a cost basis listed for each and totaled.

    Do I need to list the 2 mutual funds separately on each 1099-B which would make 6 entries or can I just use the combined totals that appear on each 1099-B and list them 1 for each 1099-B making a total of 3 entries?

    Do I just enter the numbers from the 1099-B’s or is there something else I need to do to figure the proceeds and cost basis. There is no wash or accrued market discount.

    • This topic was modified 2 years, 7 months ago by mike_stan.
    #2255
    kaneohe
    Participant

    https://www.irs.gov/pub/irs-pdf/f1040sd.pdf

    see the instructions for lines 1a and 8a on Sch D. If the 1099B reports the cost basis to IRS,then it sounds like you can just put the totals for groups 2 & 3 on the appropriate lines on Sch D. For group 1 where the basis is not reported, you are told to enter the transactions on the 8949 where you will have to provide the basis ti URS so 2 entries on the 8949 and 2 entries on Sch D. You will also have to provide a total from the 8949 to Sch D on the appropriate line for a total of 5 entries.

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