On my 1099-B

Forum|Forum|4 years ago
March 9, 2022
1 reply
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I have no entries on 1B and 1E, what am i spouse to write down on my tax forms for these entries?

Best answer by DaveF1006

These are important in determining the amount of your capital for the year. If you knew approximately what date you acquired the stock, you can put the date in Box 1B. However, if you don't know how much you paid for stock or if there were adjustments in the cost basis, then the entire amount reported in Box 1D is a capital gains tax.

iI you have some paperwork that shows how much you paid for the stock, you may put that in Box 1B and under the sales section, report if it is either a long-term or short-term sale where basis was not reported to the IRS. Keep in mind:

a long term gain is a stock that you have own for more than one-year.
a short term gain is a stock you owned one year or less.

You may wish to contact your broker if you aren't sure when stocks were purchased and what amount you paid for the stocks.

DaveF1006Answer

Level 15

a long term gain is a stock that you have own for more than one-year.
a short term gain is a stock you owned one year or less.

You may wish to contact your broker if you aren't sure when stocks were purchased and what amount you paid for the stocks.

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henrychoochAuthor

Level 2

Yea i got the buy dates which were 3 separate dates and the stock prices for them dates. I put them all in, but called a Turbo tax advisor and he told me to take them all out and put in zeros, which than taxes me on the full proceeds which im not liking too much! so im going to put my info back in and break to 80 shares down and the dates of purchase Thanks Brian

JohnB5677

Level 15

@DaveF1006 gave you great advice, and it sounds like you initially followed it. I'm not sure why the other advisor gave the other advice, but you certainly should post all of the information you gathered regarding the dates and amounts.

One key point is to write down what you did to get those dates and values as documentation in the event the IRS should question it.

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