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Returning Member

1099B - Cost Basis Method = FIFO

I sold some stock that was converted from a MetLife insurance policy years ago. - The 1099B says FIFO for Cost Basis Method.  I did an import from Computershare and the field is still blank - how should I proceed?  Any suggestions would be greatly appreciated.

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Employee Tax Expert

1099B - Cost Basis Method = FIFO

It sounds like Computershare does not have the original cost basis, which is common in cases like these. You will have to check your MetLife records to track down the original cost basis. 

 

In TurboTax, please be sure to check the box that says "The cost basis is incorrect or missing on my 1099-B". This will allow you to make the necessary basis adjustments.

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