I am trying to figure out Cost Basis from a 1099B form I received.
I redeemed $6000 in long term stock in 2024. My 1099B Form has no Cost Basis in column 1e, and Date Acquired box 1b is blank.
On my end of the year statement from my investment company it lists this:
Total shares owned=813 Share Price=$13.88 Cost Basis Covered Shares=$7741
I redeemed 404 shares on my 1099B Form.
Do I just divide Cost Basis($7741)by Total Shares Owned(813)=9.521 which would be Cost Basis per share.
Then multiply 9.521 X shares I redeemed(404)=$3846.69
Therefore $3846.69 is my cost basis?
I've been doing my taxes with TurboTax for over 20 years and never have come across this. It's very confusing, and I want to get it right.
Also, if this is correct. Do I use the Cost Basis from my end of year 2024 statement, or the statement before I redeemed the long term stock.(Which was in September 2024) Both Cost Basis amounts are different.
Thank You
