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jslavik4
New Member

I sold all stock when I left my company. They do not provide a 1099-B. I put in long term sale no 1099-B in Turbotax but it says the IRS requires a copy. What do I do?

I have the stock basis values from my old company, as well as stock value at sale and deferred comp value (which I paid taxes on already).  I'm at a loss as how to input this into Turbotax to insure I am paying the requisite taxes on the capital gains without the 1099-B form, which old employer informed me they don't provide.
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MinhT1
Expert Alumni

I sold all stock when I left my company. They do not provide a 1099-B. I put in long term sale no 1099-B in Turbotax but it says the IRS requires a copy. What do I do?

You do not need a form 1099-B to report the sale. And the IRS does not require 1099-B forms as long as you have records of cost basis and sale price, date of acquisition and date of sale. The capital gains/losses are long term if you have held the stocks for more than a year.

 

On form 8949, these transactions will be reported in Box F - Long term transactions not reported to you on Form 1099-B.

 

The instructions for form 8949 say:

 

Box F.

Report on a Part II with box F checked all long-term transactions for which you can't check box D or E because you didn't receive a Form 1099-B (or substitute statement).

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