Photonut
New Member

I sold stock but reinvested the funds to buy other stock. Do I need to show that as income?

On my consolidated 1099 from my stock broker, section 1099-B it only shows item 8 thru 11 with all zeros. However, in the Summary of Proceeds, Gains & Losses, Adjustments & Withholding, it shows an amount for a sale of my Mutual Funds. If the sale is made to acquire funds to reinvest in buying other stocks, why would the funds be taxable if they are reinvested during the same month? Am I using the wrong TT product or am I not understanding something here?