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Level 1
posted Mar 31, 2021 2:31:07 PM

1099-B From IRA

I received a 1099-B from a company coming out of bankruptcy previously owned in my IRA.  I deposited  all proceeds back to my IRA.  Do I need to report this 1099-B, and if so how do I reflect no distribution at this time?

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2 Replies
Level 15
Mar 31, 2021 2:36:20 PM

It should be in the name of your IRA.   Give it to the IRA custodian.  You should not receive - your IRA should.

Level 1
Mar 31, 2021 2:43:59 PM

The dilemma is I transfer my IRA while the company was in the process of reorg, not expecting any return.  When I received the funds, I provided proof of previous IRA ownership to ETRADE(current IRA  holder) and they transferred the funds in as an IRA rollover.  1099-B was received from COMPUTERSHARE which is where the shares were held while the company was recovering.