RogerD1
Expert Alumni

Investors & landlords

If your 1099-B has sales for non-covered shares that you had sold, and you have no records of the cost basis, these can be reported in the 1099-B in TurboTax with a basis of zero, however this could result in a large tax bill because the full amount will be taxable.

 

Were these Restricted Stock Unit shares from your employer?  These are often reported as non-covered shares with a zero basis, but sometimes the broker who sent the 1099-B might supply some supplemental information that gives the basis information - you might want to check your 1099-B pages to see if that information may be present.  Alternatively, you may also be able to get records from your employer to report or reconstruct the basis of the sold shares.

 

The shares may also be non-covered if they were originally bought before 2011 (for stocks and ETFs) or before 2012 (for mutual funds and Dividend Reinvestment Plans (DRIP)).  If this is the case, they would be long-term investments that would be taxed at the more favorable capital gain rates.

 

If you need additional help, please provide as much detailed information as possible (do not include personal information though) - that will help us to better help you.

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