RETURN OF PRINCIPLE

My 1099 from my broker does not show cost basis on return of principle payments on bonds.

It shows ALL of those distributions as taxable. There is no drop down from turbo tax to show these payments are return of principle. Is it safe to add cost basis as the same as purchase price?? There are nearly 100 of these entries.

thank you

Robert Stevens

561

Level 15

Mar 10, 2024 11:00:22 PM

if this is a 1099-B the box checked for should be B, C, E, F or X

8949 instructions

You received a Form 1099-B (or substitute statement) and the basis shown in box 1e is incorrect

• If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g).

also enter code B in column (f)

what do I do if the items are BOX B OR E- enter basis in column e and skip columns f and g. do at your own risk.

there are no specific instructions for what to do if BOX C, F OR X are checked.

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RETURN OF PRINCIPLE