1099-b tax form import from computershare

Discussion in 'UPS Discussions' started by j4ck4zz, Feb 3, 2014.

  1. j4ck4zz

    j4ck4zz Member

    Do any of you know of a tax preparation website that will import my 1099-b info from computershare? Turbotax won't do it for sure, and I have a rather thick 1099-b.
     
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  2. brett636

    brett636 Well-Known Member

    I doubt there is a tax program that will do that. The 1099-B usually only shows half of the information you will need to fill out a Schedule D to include in your tax return. It will show what your proceeds were from the sale of stock, but won't show what you paid for it. When i did taxes on a professional basis I had to correct a few returns where someone didn't take this into account and the 1099-B was treated as 100% income when this was almost never the case. Looks like you have some work ahead of you if you sold a lot of stock in 2013. Goodluck!
     
  3. j4ck4zz

    j4ck4zz Member

    Thanks for the info Brett! I probably do have some work ahead... Maybe I'll learn something. :)
     
  4. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    You will learn terms such as "cost basis", "wash sale" and "net proceeds".
     
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  5. upschuck

    upschuck Avatar bet gone wrong

    Can you still put "Various" in the date field, if it was bought and drip'ed for 10+years, one for long term, one for short term? If not that is going to be a lot of data entry for me.
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    As long as you held it for longer than 30 days, which if you didn't it would be a wash sale, you can use various.
     
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  7. upschuck

    upschuck Avatar bet gone wrong

    Awesome...that cut down on a lot of time
     
  8. Mr. Marshall

    Mr. Marshall New Member

    Did you receive your 1099 from Computershare? I have not and I cannot find it on the website. I also sold some stock for the first time and I need to figure out how to report it.
     
  9. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Schedule D is extensive but fairly self-explanatory.
     
  10. brownmonster

    brownmonster Man of Great Wisdom

    Just got mine from Compushare for my UPS stock sale. Very detailed. Can't wait to pay the capital gains.