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My 1099-B does not show a cost basis or a date acquired for a 2018 tx. The qty sold was only .002 of a share and the proceeds for the tx was only 2 cents. what to do??

 
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Anita01
New Member

My 1099-B does not show a cost basis or a date acquired for a 2018 tx. The qty sold was only .002 of a share and the proceeds for the tx was only 2 cents. what to do??

Don't report it, it will round down to zero and you won't be able to e-file.  If you really want to report it and file by paper, enter zero for cost basis and choose any date for purchase, since it's not enough to cause any tax.  The IRS only matches to proceeds and your proceeds are less than 50 cents.

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1 Reply
Anita01
New Member

My 1099-B does not show a cost basis or a date acquired for a 2018 tx. The qty sold was only .002 of a share and the proceeds for the tx was only 2 cents. what to do??

Don't report it, it will round down to zero and you won't be able to e-file.  If you really want to report it and file by paper, enter zero for cost basis and choose any date for purchase, since it's not enough to cause any tax.  The IRS only matches to proceeds and your proceeds are less than 50 cents.

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