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WHFIT, proceeds, TT need for information
My 2020 (corrected)1099-B list 55 individual proceeds from an WHFIT (GBTC). Each has a date, amount, and cost basis factor. I have read the recommended action to calculate the cost basis for each proceed (note 16). Calculating the basis for each proceed would be a lot of work. The total of all the proceeds is also listed. Also each proceed is offset by an investment expense of the exact same amount. To me that should result in no (zero) taxable gain.
Why is TT requiring additional information for each of the 55 items? Is there any work around?.
March 8, 2021
11:58 AM