MonikaK1
Employee Tax Expert

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Check with the brokerage if you are uncertain as to exactly what the proceeds on your Form 1099-B represent. If any part represented interest, dividends, or proceeds from the sale of an investment, there could be taxable income involved.

 

If they are strictly a return of after-tax cash held by the firm, you could report the Form 1099-B and enter the same amount of the proceeds as your basis in the distribution.

 

See this TurboTax tips article for more information about proceeds from Forms 1099-B.

 

 

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