Thank you James.
I know the value of the original stock when I received it.
Using your example and amount, it would be years ago (so long term), I received (inherited) one share of stock for $50. In 2024, using the $50 example, the 1099-B would say I received $3.23 as "Proceeds from sale of rights." I still own the one share.
If I say in TurboTax I say "What type of investment did you sell?" and select choice Stock (non-employee), and then list the basis as $50, would TurboTax show a net loss of $50.00 - $3.23 = $46.77 ? And is that okay to do it that way? Where a "Proceeds from sale of rights" generates a large loss? Or does one list the basis at the $3.23 ? or what?
