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Snow-Ape
New Member

How do I enter cost basis for 1099B? No box for 1e is available and the increased 1d box proceeds are inflating my liability

I vested 18 shares in 2020 tax year, these were correctly reported as income on my W2.  When I import the Morgan Stanley 1099B, no box is present for Costs Basis (1e).  As a result, the vested stocks (which I did not sell) are being reported as income inflating my liability. I checked "my form has info in other boxes" but no 1e box pops up
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1 Reply
DianeW777
Expert Alumni

How do I enter cost basis for 1099B? No box for 1e is available and the increased 1d box proceeds are inflating my liability

It depends. Did the company use some of your stock to sell to cover your taxes (federal withholding, state withholding, social security and medicare taxes)?  If so then you do have a reportable sale.  The portion of income that belongs to the shares that were withheld and sold in this type of scenario would also be your cost basis.

 

Review your pay stubs and all documentation received from your company about your vested stocks. You don't want to pay tax on any gain when you have a cost basis to use against it.

 

 

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