Solved
Reporting Investments
When TTax imported my Scottrade information, it listed the final sale of my stock, not the gains from the stock. For example, If I purchased stock for $1K and sold for $3k, shouldn't my sale proceeds be $2K?
No. The "proceeds" are the amount the buyer paid to you. So $3K would be the proceeds in your example. Clearly your imported 1099-B's are not listing the basis for the stock which, going back to your example, would be $1K.
You need to look at your actual 1099-B, I think. I would guess that the broker is not reporting the basis of the stock, which is probably correct if the stock in "noncovered." I that case the basis needs to come from your own records.
Tom Young
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Explore your optionsEnter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Security Certification of the TurboTax Online application has been performed by C-Level Security.
By accessing and using this page you agree to the Terms of Use.
© 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Copyright © Intuit Canada ULC, 2026. All rights reserved.
© 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.
© 2026, Entreprises Intuit Canada ULC. Tous droits réservés.