On my consolidated 1099 from my stock broker, section 1099-B it only shows item 8 thru 11 with all zeros. However, in the Summary of Proceeds, Gains & Losses, Adjustments & Withholding, it shows an amount for a sale of my Mutual Funds. If the sale is made to acquire funds to reinvest in buying other stocks, why would the funds be taxable if they are reinvested during the same month? Am I using the wrong TT product or am I not understanding something here?
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Sorry but it doesn't matter what you did with the sale proceeds. You have to report all sales and pay tax on any gain. If the 1099B doesn't have your cost info then you have to enter your cost from your own records.
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