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Entering a Form 1099-B in ProConnect

SOLVEDby IntuitProConnect Tax48Updated May 03, 2022

This article will help you determine where to enter amounts and information from Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, in Intuit ProConnect. Generally, these transactions are entered on the Dispositions or Schedule D/4797/etc. screen, depending on your return type.

Navigation in this article is written out for individual returns, but similar steps apply for business returns. Select the applicable Form 1099-B box below to view where to enter that information into the tax return.

  1. Go to the Input Return tab.
  2. From the left of the screen, select Income and choose Dispositions (Sch D, etc).
  3. Select Schedule D/4797/etc.
  4. In the Quick Entry grid, enter the Description of property from box 1a.
  5. Enter the Date acquired from box 1b.
  6. Enter the Date sold from box 1c.
  7. Enter the Sales price from box 1d (proceeds).
  8. Enter the Cost or basis from box 1e.

Input for these items will be in the same Schedule D/4797/etc. screen.

ProConnect will automatically determine whether the transaction is short-term or long-term based on the date acquired and date sold.

  1. Go to the Schedule D/4797/etc screen where you entered the box 1 amounts for this transaction.
  2. Click the Details button.
  3. From the top of the screen, select the Schedule D section.
  4. Check the box labeled Collectible (art, stamps, coins, precious metals, etc.)(28% rate).
  1. Go to the Schedule D/4797/etc screen where you entered the box 1 amounts for this transaction.
  2. Click the Details button.
  3. From the top of the screen, select the Schedule D section.
  4. Enter the box 4 amount in Federal income tax withheld.

There isn't an entry for box 5 in the program.

There isn't an entry for box 6 in the program.

If checked, the client can't take a loss on their tax return based on gross proceeds from a reportable change in control or capital structure reported in box 1d. The broker should advise you of any losses on a separate statement.

Refer to the IRS instructions for Form 8949 and Schedule D for more information.

If box 12, basis reported to IRS, is checked, no entry is needed in ProConnect. If you receive a Form 1099-B where Box 3 isn't checked, enter a 1 in Basis rptd: Blank=To IRS, 1=Not to IRS, 2=Not on 1099-B.

This box shows the cash you received, the fair market value of any property or services you received, and the fair market value of any trade credits or scrip credited to your account by a barter exchange. See IRS Pub 525 for more information.

There isn't an entry for box 13 in the program.

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