Can someone assist with entering this info for a 1099-B from Brighthouse Financial for a Spin-Off. I am having difficulty figuring out how to enter this info.

[1099-B-confused]

Distribution with the following info: Distribution Date: 8/4/17, Metlife Inc. Common Stock: 23, Distribution Rate: 1 for 11, Brighthouse Financial Common Stock: 2, Fractional Share: 0.090909, Cash In Lieu Rate: 58.7070848, Gross Amount: 5.34, Tax Ded Amount: 0.00, Net Amount 5.34, 1c: Date Sold: 8/10/17, 1d Proceeds: 5.34, 5: Noncovered Security Checked.  

[marklynnb]

I have the exact same problem.  Same company same amount.  Unsure if we have to file it under $10 ? Can someone please answer.

[sharongmel]

I'm having the same issue.  How did you resolve it?  Turbotax is telling me the 8/4/17 date is invalid.

[Need-2009-help]

I have entered everything several times and TT keeps changing the amount of shares sold to 22.75 (from .0909) and then tells me that the 22.75 value is a discrepancy.  How do I get around this?

[Anita01]

You received Brighthouse stock in exchange for Metlife Stock.  You don't have to report anything for the exchange of stock.  You do, however, need to report the cash you received for the fractional shares.  

So, with 8/10/17 as the date of sale, your net proceeds were $5.34.  You can use zero for your original cost basis, and enter the purchase date as the date you originally bought the MetLife stock.  

I am including here an answer to this question provided by Tom Young in this forum.  He goes into a discussion of how to allocate cost basis between the two stocks for future sales of either stock.  He also mentions you could just claim the amount received for the fractional shares as Other Income or Miscellaneous Income.  You would then be taxed on the cash received at ordinary income rates, but, with such a small amount involved, it wouldn't have much impact on your overall return and it's certainly easier.

https://ttlc.intuit.com/replies/6507753

[assist2025]

I am just curious. I got MetLife shares as a result of Metlife's demutualization" in 2000. Since, the Cost Basis is zero.  Did anyone do that part on the Turbo Tax software where it's states "If you have additional info about this sale, you can enter it on your own, or we can guide you.

You have a choice between "I'll enter additional info on my own" or "Guide me step-by-step" after entering your information for Box 1a, Box 1c, Box 1b, Box 1d, Box 1e, which is Cost or other basis is zero.

or did you just click on Done and continue with entering your tax information.  Please, let me know.

Thanks for the assistance.