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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7197
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I have multiple 1099-B forms Im attempting to enter in H&R

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I have multiple 1099-B forms I'm attempting to enter in H&R Block online. The one I'm currently working on shows a list of short sale closes on multiple stocks. Do I need to manually enter each line item for each sale for each stock?

Stephen G :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything that is not clear.

Stephen G :

Technically, yes.

Customer:

Ok so for 1 form, I have 6 stocks listed. Each stock has as little as 2 and as many as 10 short sales. So I have to enter each short sale for each stock for each account?

Stephen G :

However many taxpayers and tax preparers when faced with a similar issue, enter the totals for each group of transactions so that they agree to the 1099B - and note on the form that "the detail of the summarized transactions is available upon request".

Customer:

ok , so I can total them per stock? What about the fact that the sale dates are different for each transaction?

Stephen G :

Yes, for each stock would be fine as long as they are all short term (or long term in other situations); any logical grouping. Use "Various" for the dates.

Customer:

ok cool. That helps... I have a lot and I was gonna cry if I had to enter each line item

Customer:

Thank you!

Stephen G :

Usually there's a code to enter in the date columns to get that to print out.

Stephen G :

Like 99 99 9999 or something

Stephen G :

If you need to contact me again with any tax or financial questions, you can just ask for "Steve G" at the beginning of your question. Again, please remember to rate my response. Bonuses, where you think they are warranted, and excellent ratings, are always most appreciated. Thanks again for using JustAnswer.com.

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Stephen G :

Questions?

Customer:

actually 1 more. It won't allow me to enter anything but a date for date sold. Since they are all different, If I enter the last date in 2012 for all the items, will that work? There isn't any code

Stephen G :

Does your 1099B have all the individual dates?

Customer:

yes

Stephen G :

Can you input long or short term without using the dates ? Possibly doing that & just entering the year?

Stephen G :

If you can override the long & short designation & leave the dates blank you could write in "various" if you file a paper return.

Customer:

It still asks me if it's long or short regardless and I'm putting short in. Doesn't seem to allow me to override. Am I looking for trouble if I file online using the first date of aquisition and the last date of sale for multiple dates of the same kind of sale per stock?

Stephen G :

All these "little" problems is why I decided to enter all the transactions and not mess around; some clients had 4 or 5 pages of info when the 1099Bs only reported gross proceeds.

Stephen G :

I don't know why the IRS would match the dates; they are always primarily interested in the proceeds.

Customer:

hmm. Ok, thank you!

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