Investors & landlords

If the 1099-B reports the sale of shares that were for taxes then you need to report that sale.  The cash from the sale of shares sold "for taxes" was passed back to your employer, who paid the government, and included those amounts in the "taxes withheld" boxes of the W-2.

 

Since it's a Box B sale - basis not reported to the IRS - you simply enter the correct basis as you enter the sale in the spreadsheet-like, "fill in the boxes" default TurboTax entry form.  Press "Continue" when you've entered the 5 pieces on information.  You are done.

 

(I'm assuming, of course, that you DO KNOW your correct basis for the shares sold.)

Tom Young.

View solution in original post