Solved: On 1099b have a deposed stock, I do not know the dated acquired or the cost, ai do not want to declare the loss
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

On 1099b have a deposed stock, I do not know the dated acquired or the cost, ai do not want to declare the loss

 
1 Best answer

Accepted Solutions
Level 15

On 1099b have a deposed stock, I do not know the dated acquired or the cost, ai do not want to declare the loss

You will need to report the sale.

As long as sale was a year after the stock was purchased it is long term which is more favorable tax rate.

So you will have to enter a purchase date and estimate it the best you can.

For the cost basis you will have to enter a number and if you cannot determine the cost basis enter $0.

To enter your Investments sold

Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button


View solution in original post

1 Reply
Level 15

On 1099b have a deposed stock, I do not know the dated acquired or the cost, ai do not want to declare the loss

You will need to report the sale.

As long as sale was a year after the stock was purchased it is long term which is more favorable tax rate.

So you will have to enter a purchase date and estimate it the best you can.

For the cost basis you will have to enter a number and if you cannot determine the cost basis enter $0.

To enter your Investments sold

Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button


View solution in original post

Dynamic Ads
v
Privacy Settings