Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Feb 19, 2022 4:49:44 PM

Why are the sales proceeds and cost basis so high on my 1099-B?

Urgent, hello I'm wondering why both of my proceeds and cost basis is so high and if that's normal? While doing my taxes I noticed that my proceeds and cost basis was over $250,000 when I only invested about $30,000 with a loss of about $5000. I'm 100% sure that at no point did I have $250,000 in my account, I just want to make sure this is normal so I can stop panicking. 

0 1 313
1 Replies
Level 15
Feb 19, 2022 5:52:44 PM

Doesn’t sound right. Contact your broker.