@Complexlocal wrote:
Are we not supposed to completely duplicate what we see on the 1099 B from the institution?
No, you are not necessarily supposed to exactly duplicate what's on the 1099-B. If the 1099-B does not have the cost basis and date acquired, you are supposed to enter that information from your own records. The date that the stock was delisted has no significance, and your basis did not disappear when it was delisted. The date acquired is the date that you originally bought the stock, and the basis is what you originally paid for it. (The broker might have removed the original basis from their reports for some reason, but your basis is still the original purchase price.)
You definitely should report the sale on your tax return because you will have a nice big capital loss to offset any capital gain you might have, or to offset up to $3,000 of ordinary income, or to carry over to future years.
@Complexlocal wrote:
Can we just put our own dates on? Won't the IRS find it unacceptable?
Yes, you can enter your own date. What the IRS would find unacceptable is not having a date, which is why TurboTax makes you enter a date.
@Complexlocal wrote:
And if I have to put a date, do I put the date the stock was delisted, or do I put the date when the stock was first bought? Which are two different dates.
You enter the date that you first bought the stock. The date that is was delisted has no significance as far as your tax is concerned.
