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BJSmith
Returning Member

1099-B previous year disposal

A company in which I had a few shares was acquired in April 2018 (and my shares were sold). I didn't receive funds from the sale until middle of 2019 and received a 1099-B for 2019 (with a disposal date or April 2018). 

 

Is this reportable on my 2019 tax return (TurboTax won't allow me to enter a disposal date in 2018 on my 2019 return) or do i need to amend my 2018 return?

 

The shares were received in 2013 as compensation for some work i did for the company. I have no idea what the cost basis is (I guess they were worth a tiny amount and I paid some income tax back then, but I was living abroad and don't have easy access to the documentation). Can I just enter $0 as the cost basis and "long term non-covered" as the sales category (the amounts are so small, i'm not interested in minimizing the tax paid; I want to avoid spending time searching for documentation)?

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1 Reply
DavidD66
Expert Alumni

1099-B previous year disposal

Yes, you can use a cost basis of $0.00 and long term non-covered as the sales category.  Since you received the cash, and the 1099-B are both 2019, it would be taxable on your 2019 tax return.  For the sale date, use the date you received payment.

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