- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Settlement from brokerage for stock not sold as instructed and loss incurred. Reported on 1099 box 3.
We received a settlement from a brokerage firm to compensate us for losses incurred when inherited stock was not sold as instructed. We received a consolidated tax statement summary saying the amount was being reported on 1099 box 3 but did not actually receive a 1099. We should not have to pay taxes on a settlement for inherited stock that lost it's value due to a mistake by the broker. How do we report this on Turbo Tax
Topics:
March 10, 2021
8:33 PM