@mshlyaktaxquestions1 wrote:
1c) date sold example I could write various for multiple purchases, or a single date
No, that's not right. For the date sold you have to enter the actual date of the sale on the 1099-B, even if the stock that was sold on that date was not all purchased on the same day. If stock was sold on multiple dates, you have to report each sale separately on the 1099-B.
However, others may disagree, but I don't think it's really necessary for you to issue a 1099-B to your sibling. He or she does not need a 1099-B to report his or her share of the sale. The IRS is not going to complain if someone reports a sale for which there is no 1099-B. If you are using TurboTax, just answer No when it asks if you got a 1099-B. On Form 8949, box C and box F are for sales that were not reported on a 1099-B, so there's nothing unusual about it.
You haven't said anything about reporting your share of the sale on your own tax return, so I just want to clarify it. You have to report the full amount as shown on the 1099-B that you receive from the broker. Then you enter an adjustment for your sibling's share, with adjustment code N. On your Form 8949 columns (d) and (e) will show the total proceeds and basis. The code N will be in column (f) and the amount of the adjustment will be in column (g). If you are using TurboTax, check the box that says "Some (or all) of the proceeds from this sale do not belong to me." If you do issue a 1099-B to your sibling, it should show only his or her share of the proceeds and basis.
