1099-B for a spinoff

Forum|Forum|6 months ago
April 7, 2026
5 replies
298 views

I received 2 1099B from the recent Honeywell spinoff of Socstice Advanced Materials. One is for 18.59 from the fractional sale of .413 shares. The other is for 29.25 for .640 shares. Turbotax keeps asking for the cost basis which isnt listed. It doesnt seem to understand or give a drop down menu to state that this is from a spinoff. What do I do? I saw on a separate thread with the exact same problem with the Solstice spinoff that someone was advised just not to list the 1099Bs.

DaveF1006

Alumni - Intuit

Enter $0.00 if you don't know the cost basis. TurboTax doesn’t have a “spinoff fractional share” dropdown, so you do this manually:

Go to Investment Income → Stocks, Mutual Funds, Bonds, Other
Enter the 1099‑B manually
When asked for cost basis, choose: “I’ll enter it myself”
Enter 0.00 as the cost basis.
For the description, write something like: “Fractional share from Honeywell/Solstice spinoff – cash in lieu”

TurboTax will then calculate the small gain (equal to the proceeds).

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tripletmomAuthor

Level 2

it does not have a box that says "Ill enter it" Instead there is just a box 1e - cost basis where you type in what in that box. So typed 0.00 but theres no box to write in description. However there is a drop down box "what type of investment did you sell" before you enter what in box 1a. the closest choice is "stock non employee". then it asks if I want to keep the cost basis at 0.00 so I said yes. It no longer shows any errors when it does the federal review. so just want to make sure i have done the correct entries. Im showin cost basis as 0.00. but not stating anywhere that it is a spinoff fractional sale

DaveF1006

Alumni - Intuit

Yes, you do not need to be precise in your description, especially since it involves a small amount. Stock non employee is probably the closest that you are going to get. Reporting it is the biggest "key" and you are in complete compliance with the tax code in reporting the income.

For the date acquired in NJ, don't leave it blank. Enter the date you originally purchased the parent company stock. If you aren't sure of the exact day, using "Various" (if the software allows text) or an approximate date from that original purchase is ‌standard practice. In this case, don't enter the date of the sale.

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