Report it as a stock sale with no cost basis. The total cost basis for the new shares you own will be the full amount paid for the original stock. The fractional shares are an offset to equal out the transfer.
Open your TurboTax Online/Moblie return:
- Select Tax Home on the left panel > Select any Income category or Pick up where you left off
- Select Tax Tools > Tools > Select Topic Search > Type 1099b > Select GO (should be landed on 1099b)
- Select Add Investments if your 1099-B is not yet present in your list
- Continue to follow the prompts to enter the information yourself
Open your return in TurboTax Desktop:
- Select Personal Income > Scroll to Investment Income > Select Stocks Cryptocurrency, Mutual Funds, Bonds, Other
- Start or Update > Continue to follow the prompts to enter your 1099-B
The sale of any investment is required to be included with your tax return, gain or loss.
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