Your client’s 1099-B could be long, particularly if they have frequent allocation changes or withdrawals. In particular, if they have enabled TLH+, they may see many transactions. What shows up as a single transaction in their activity tab (Withdrawal, Tax Loss Harvesting) can actually be multiple ETF sales for tax purposes, which is what the 1099-B shows. Sales are grouped by ETF, and within each ETF, by date of sale. They can reference their quarterly statements for a chronological list of transactions, each with a breakdown by ETF sold. The CSV download of your 1099-B can also be useful to sort the information in different ways, or to import into other software.
Articles in this section
- Tax Season Calendar
- How can my clients calculate their state-specific municipal bond ETF interest?
- Why did my client not receive a 1099-DIV, despite having received dividends?
- How should I/my clients interpret the information on their 1099-DIV?
- Why are the dates shown for dividends on my client’s Activity page different than the pay dates on their 1099-DIV?
- Why are there so many transactions on my client’s 1099-B? How can I reconcile the transactions on their Activity tab with their 1099-B?
- What tax forms will my client receive from Betterment for Advisors for their SEP IRA at the end of the year?
- Can my client contribute to a SEP IRA after April 15th if they have filed for an extension?
- Where can I find my client’s tax statements?
- Why are the sales proceeds and/or cost basis so high on my client’s 1099-B?