Hi, I am a TT use for 14 years now but probably posting a question for the first time. I received a 1099-B form from a broker which is not being handled well in TT. Here are the details.
1.) In June 2020, I exercised the vested stock options of a company after quitting. Paid 1.23 per share for 3000 shares (FMV 1.5 on the exercise date). It was an ISO sale and I held the sold stocks (3000 stocks).
2.) In September 2021, the company was acquired by another company and I received 150 shares of the acquiring company + some cash as part of my ownership of 3000 stocks of my old company (acquired company).
3.) I received 1099-B etc. and probably (I am hoping that) everything was handled well in the 2021 taxes (filed in 2022).
4.) Now, after 1+ years, in March 2023 the broker released a new amount of 4475/- which was held in an escrow. I got the check payment in 2023 and now received a corresponding 1099-B for 4475/- . The problem is that 1099-B has either missing fields, or just not the right information to calculate the cost-basis.
Here are the items/boxes of 1099-B
Reported to IRS: Net Proceeds X (checked)
Applicable check box on Form 8949: X (checked)
1a (Description of property): Shares sold
1b (Date acquired): blank
1c (Date sold or disposed): 17 March 2023
1d (Proceeds): $4475
1e (Cost or other basis): blank
1g: blank
2 (Type of gain or loss): blank
4 (Federal income tax withheld): 0.00
5 (Check if noncovered security): X (checked)
12 (Check if basis reported to IRS): blank (not checked)
14, 15, 16: blank
Now, I think this is a "long term basis not reported to IRS (noncovered)" but even then, TT does not let me proceed and I don't know how to calculate the cost basis with this information. I tried the workflow in TT to calculate the cost basis, but it is asking me questions I don't have answers for.
Can someone please help?
