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lori-f-nakahara
Returning Member

I sold 250 shares of stock with different cost basis. How do I report this if the cost basis was not identified on the 1099-B?

Should I average the cost basis for the various stock sold?  If yes, how do I do that in Turbo Tax.

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1 Reply
DS30
New Member

I sold 250 shares of stock with different cost basis. How do I report this if the cost basis was not identified on the 1099-B?

It depends -

If you actually know when the shares were originally purchased, you can look up the historical value of the shares online to get an approximation of the costs basis for each stock purchased. If you actually know the cost basis on each stock purchases but the information is just not listed on your Form 1099-B, then you can report the cost basis related to each stock sold on a first in first out basis.

If you only have a total amount for the basis of all 250 shares, then just dividend the total by 250 and allocated to all shares sold.

Since the basis information is not being reported on your 1099-B, then you can use "various" for the date acquired and indicate that all the sales are long - term (If you held the stock with the broker providing you the 1099-B, they are required to report basis for the last several years so you can assume long-term. However, if you are not sure, then you may want to contact the broker for more information.)

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