Message Font: Serif | Sans-Serif
No. of Recommendations: 0
BUT .. noticed on the import that *most* (non-options) were Box 'B' even though basis is on *my* 1099
ie, my 1099 shows stock and fund sales... dates, proceeds & basis for each, but for only a few was basis reported to IRS --and i see no way to distinguish from the 1099

With stock sales it's a bit more difficult. While the 1099-B for sales where the broker isn't required to report cost basis (type B) probably shouldn't have the cost basis info, some brokers are reporting it on the paper statements to account holders and noting in the footnotes that they are not providing this info to the IRS. It would be much "cleaner" if they only reported the required info in the official 1099-B section and saved the extra info that they know (and that the taxpayer needs to complete his return) for the supplemental statements.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.