My wife purchased a stock years ago, multiple purchases totaling well over 1000 shares. Two reverse splits over the years reduced her shares to 4. A third reverse split in 2023 left her with a fractional share, for which she received cash in lieu of. She now has zero shares. It was not reported on 1099B, only in investment activity summary. How does it get reported? Assuming it would go on 8949, box F, with cash in lieu as proceeds and original purchase price minus any cash received in lieu at previous reverse splits as the basis? Thanks.
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yes report on schedule D/8949 code F - CIL and tax basis.
yes report on schedule D/8949 code F - CIL and tax basis.
Hi, sorry for taking so long to acknowledge your response, unable to work on taxes the last couple of days. Thank you for responding so quickly. That was what I thought I had to do, haven't dealt with CIL for a few years, just wanted to double check. Thanks again.
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