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Where the 1099-B's are from has no relevance to your tax returns. What matters is when you lived when you received any income reported on them. For instance, if you were living in Georgia the first half of the year, any interest, or dividends paid during that period would be taxable by Georgia. If you then moved to Florida, the dividends, interest, capital gains, etc. your received during the second half of the year would not be taxable for state tax purposes, as Florida has not state income tax. If you were living in the same state all year, then just enter the 1099-B's in your return.
Thanks for the reply but I was not clear in my question,i would like to know how I report unclaimed funds
that came with a 1099B
Unclaimed funds or investments you received from a brokerage would not be taxable; however, if they were sold then you would have to report the sale. You will need to determine a cost basis. If you can't determine the cost basis, you can use zero. Your holding period would long term, and for date of acquisition, you can use various. If this doesn't answer your question, try being more specific and provide some details.
Thanks so much for the reply. These funds were released by the state of New York and were unknown to me
and were not sold to me as I had no knowledge of them. Therefore, is it safe to assume it is not taxable?
You have 1099-B forms and received money from NY. The IRS does know about it and it should be on your return. David is right about how to report the 1099-B form.
If you need more information, contact the issuer. The issuer was able to give you money and file an official form.
You may need to file a NY return as well. Please see page 7 for those rules from NY DOR
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