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How do i report stocks showing on a 1099-b when they were transfered to a new institution and not sold?

I have a 1099 B from an institution showing total proceeds in box 1d. However, these stocks were transferred to a new institution. How do I report this on my tax return?

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MinhT
Expert Alumni

How do i report stocks showing on a 1099-b when they were transfered to a new institution and not sold?

Stocks transferred to another stockbroker and not sold are not reported on your tax return. Your former stockbroker should not have issued you a form 1099-B for this transfer.

Please read this IRS document for more information:

https://www.irs.gov/pub/irs-pdf/i1099b.pdf

As you have received form 1099-B, you should enter it on your tax return and enter as cost basis the same amounts as in total proceeds resulting in no capital gain or loss.


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2 Replies
MinhT
Expert Alumni

How do i report stocks showing on a 1099-b when they were transfered to a new institution and not sold?

Stocks transferred to another stockbroker and not sold are not reported on your tax return. Your former stockbroker should not have issued you a form 1099-B for this transfer.

Please read this IRS document for more information:

https://www.irs.gov/pub/irs-pdf/i1099b.pdf

As you have received form 1099-B, you should enter it on your tax return and enter as cost basis the same amounts as in total proceeds resulting in no capital gain or loss.


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
cruzmdela
New Member

How do i report stocks showing on a 1099-b when they were transfered to a new institution and not sold?

Moving funds within the brokerage or from one brokerage to another is considered non-taxable event if its your retirement account. But, non retirement account will generate a 1099-B if funds are moved. Is this accurate?

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