How to Enter Form 1099 Composite
Software reference · Written guide Content date 1 min read
A 1099 Composite is a consolidated statement listing the 1099s that have been issued by a financial institution to the taxpayer. Most often, multiple Forms 1099-DIV, 1099-INT, 1099-OID, or 1099-B are listed together on Form 1099 Composite.
The 1099 Composite should have a breakdown of the totals for each type of 1099 that the taxpayer needs to report. Report the total amount in the corresponding income menu within the program.
Amounts from 1099-DIV and INT should be entered in the Income Menu > Interest or Dividends.
Amounts from 1099-B should be entered in the Income Menu > Capital Gain / Loss.
Additional Information:
IRS Instructions for Schedule B - Interest and Ordinary Dividends
IRS Instructions for Form 8949 - Sales and Dispositions of Capital Assets