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Retirement tax questions
Okay, I'm doing the taxes for my brother and the same thing happened. He received TWO 1099-B forms, each one showing how much stock was sold, when it was sold. and what the proceeds were with nothing under Cost or other basis. He also received a 1099-R which shows a total in Gross (which is the total of both 1099-B forms combined), then a taxable amount in 2a and 6 has net unrealized appreciation $2.20, which is the difference between boxes 1 and 2a.
So, do I only use the 1099-R form for his income tax, or if I enter all of them, is he going to be double-taxed? Again, the 1099-B forms have NO amount listed in the cost or other basis box 6.
‎April 7, 2022
2:06 PM