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New Member
posted Jun 1, 2019 11:54:02 AM

I sold stock and reinvested 100% through a different brokerage account. How do I record this (assuming I don't have to pay tax)?

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1 Best answer
Expert Alumni
Jun 1, 2019 11:54:05 AM

If you sold stock, you should receive Form 1099-B reporting these transactions, assuming the transactions were not within a Retirement Account.

Even though you reinvested 100% of the proceeds, you will still need to report the transactions on Form 8949 of your Tax Return.  The difference between the sales proceeds and your cost basis of the stock will be reported as either a gain or loss on the sale.

Check out the TurboTax FAQ below for instructions on entering your Form 1099-B

https://ttlc.intuit.com/replies/4789365

2 Replies
Level 15
Jun 1, 2019 11:54:04 AM

Once you sell, redeploying the assets into something else, or even the same security, is irrelevant.
But if you repurchase the same security immediately, you may have a wash sale.

Expert Alumni
Jun 1, 2019 11:54:05 AM

If you sold stock, you should receive Form 1099-B reporting these transactions, assuming the transactions were not within a Retirement Account.

Even though you reinvested 100% of the proceeds, you will still need to report the transactions on Form 8949 of your Tax Return.  The difference between the sales proceeds and your cost basis of the stock will be reported as either a gain or loss on the sale.

Check out the TurboTax FAQ below for instructions on entering your Form 1099-B

https://ttlc.intuit.com/replies/4789365