You might get a 1099-B from LA for it.
There are two problems as I see it.
- you need to know your basis (what you paid for the stock plus any reinvested dividends). you can use $0 but that would increase your tax.
- what year is the proper year to report the gain? Usually that is the year sold. LA would have sold the stock when they got it. States don't hold stock in unclaimed property. So my question is did you own capital gains in that year or the year you received the funds.
If you get a 1099-B from LA I would report it in that year. Just enter it as a stock sale when TT asks about that.
If you don't get a 1099-B or it is a big gain, I would seek professional guidance from a CPA, enrolled agent, or tax attorney.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
