Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
cnsanderson
New Member

Our 1099B has no net cost for some of our stock sales

 
1 Best answer

Accepted Solutions
DDollar
Level 7

Our 1099B has no net cost for some of our stock sales

You will have to come up with the cost basis for those stocks.  If you inherited them, your basis is the stock price on the date of death.  If they were gifted, your stock basis is the same as the person that gifted it to you.  If you cannot determine the stock basis, you can look up the all time low for the stock and use that.  Finally, if you can't come up with the basis you will have to use zero.

View solution in original post

ratings image
1 Reply
DDollar
Level 7

Our 1099B has no net cost for some of our stock sales

You will have to come up with the cost basis for those stocks.  If you inherited them, your basis is the stock price on the date of death.  If they were gifted, your stock basis is the same as the person that gifted it to you.  If you cannot determine the stock basis, you can look up the all time low for the stock and use that.  Finally, if you can't come up with the basis you will have to use zero.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v