- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Because the payments were received in two different tax years, then you will report a sale in each tax year. It's normal to have a combined statement with information only on one section such as your 1099-B.
First Payment: The full cost basis of your stock was likely applied against the first payment received and reported as a sale in that tax year.
Second Payment - New Tax Year: The second payment (assuming the escrow) will be reported as selling price with zero cost basis.
First, when there's an actual "escrow" amount involved in a stock sale the IRS's guidance is that you include that escrowed amount as part of your proceeds in the year of the sale.
- In TurboTax Online or Desktop you will enter as a Stock, Mutual Funds, Bonds, Other, under Investment Income
- Select 1099B and then choose 'I'll enter it myself'.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 11, 2021
7:58 AM