Vanguard 1099 question

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sschoe2
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Vanguard 1099 question

Post by sschoe2 » Sun Feb 25, 2018 10:23 am

I am trying to understand the Vanguard 1099

The 1099-int and div are straightforward

However instead of a section labeled 1099-b "I have a section labeled Summary of 2017 Proceeds From Broker and Barter Exchange Transactions" It is not labeled as a 1099-b which confuses me. There is a proceeds and cost in box 1d. and 1e with a $40 difference that corresponds to a fund switch I did in the beginning with a net +$40.

Wagnerjb
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Re: Vanguard 1099 question

Post by Wagnerjb » Sun Feb 25, 2018 10:43 am

sschoe2 wrote:
Sun Feb 25, 2018 10:23 am
I am trying to understand the Vanguard 1099

The 1099-int and div are straightforward

However instead of a section labeled 1099-b "I have a section labeled Summary of 2017 Proceeds From Broker and Barter Exchange Transactions" It is not labeled as a 1099-b which confuses me. There is a proceeds and cost in box 1d. and 1e with a $40 difference that corresponds to a fund switch I did in the beginning with a net +$40.
Are you just looking at the first page? In my Vanguard form 1099 I see the same Summary of 2017 Proceeds on the first page, but I also see a section labeled 1099-B on a later page, with more details of each specific transaction. Do you have the detail form farther back in your package?
Andy

sschoe2
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Re: Vanguard 1099 question

Post by sschoe2 » Sun Feb 25, 2018 10:49 am

There is a 1099-b on the last several pages but it doesn't have boxes just full details of the transactions. I think that is the details and the box on page one is the 1099-b. Very confusing they should just label it as 1099-b on page 1. There is an ammount in 1d and 1e. On the details it shows a gain of $45.29 which is the difference.

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oldcomputerguy
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Re: Vanguard 1099 question

Post by oldcomputerguy » Sun Feb 25, 2018 2:05 pm

sschoe2 wrote:
Sun Feb 25, 2018 10:23 am
I am trying to understand the Vanguard 1099

The 1099-int and div are straightforward

However instead of a section labeled 1099-b "I have a section labeled Summary of 2017 Proceeds From Broker and Barter Exchange Transactions" It is not labeled as a 1099-b which confuses me. There is a proceeds and cost in box 1d. and 1e with a $40 difference that corresponds to a fund switch I did in the beginning with a net +$40.
It is a bit confusing, granted. Don't look at the 1099-B information on page 1. The information on page 1 is the summary for the 1099-B information. What you need is later in the form.

After the (large) section containing the instructions, there is a page with the header "2017 Form 1099-B". (On my particular PDF, it's on page 7.) That is where you want to start. Vanguard breaks short-term and long-term transactions out into individual sections. (Look carefully at the gray-shaded boxes in the beginning of each section. There will be verbage on the left side of the box indicating whether that section depicts short-term or long-term transactions.) Under each of those gray-shaded boxes, there are columns listing the numbers for each transaction, and the totals for that section will be brought out at the end of the section (the boldface line labelled "Total"). In each section, each column has a header labelling it according to the corresponding Form 1099-B box.

Hope this helps.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

sschoe2
Posts: 280
Joined: Fri Feb 24, 2017 4:42 pm

Re: Vanguard 1099 question

Post by sschoe2 » Sun Feb 25, 2018 3:30 pm

Thanks I completed my federal taxes on Taxact. It is my first time with my Vanguard taxable account.

I'll try completing the state on the Illinois DOR site before forking over another $37.

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