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Level 1
June 6, 2019
Question

1099b sales of stocks and bonds

  • June 6, 2019
  • 1 reply
  • 10 views

My 1099-b does not have a cost basis in line 1e of the summary but it does on

on the detailed page with box B checked.    Do I need to mail something in also because of this? 

Thank you,  E 

1 reply

June 6, 2019

No, you will not need to mail anything in, unless the IRS asks for it.

Brokerage statements will not always report the cost basis and/or sales category, even if the information is available right on the 1099-B. The IRS is receiving the 1099-B information from the broker, but is relying on you to report the correct cost basis and category.