FROM FORM 1099-B TO SCHEDULE D

Form 1099-B you receive from your broker(s) contain information you need to complete Schedule D of your federal income tax returns. In the demonstration provided here, we mostly concentrate on scenarios most likely encountered by traders with a relatively more recent history of active trading. Thus, for both short-term and long-term capital gains or loss, their portfolio's securities are "covered" in the sense that the basis of their securities are reported to the IRS.

While transaction details of every single securities trade you made in the tax year were reported individually to the IRS via Form 1099-B, you only need to look at its "Summary" tables to complete Schedule D. So the data you enter as input can be read directly from these summary tables of Form 1099-B. Specifically,

Data Entries	Descriptions in Form 1099-B
ST Proceeds:	Short-term proceeds
ST Basis:	Short-term cost or other basis
ST Adjustment:	Short-term wash sale loss disallowed
LT Proceeds:	Long-term proceeds
LT Basis:	Long-term cost or other basis
LT Adjustment:	Long-term wash sale loss disallowed

Once the data entry is done, click the "complete" button to get the result.