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Level 2
posted Mar 4, 2020 9:46:07 AM

My 1099B Box 1e from Fidelity has the word "unknown" in it. TT won't doesn't have a choice for this. How do I proceed? Thank you.

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1 Replies
Level 15
Mar 4, 2020 9:58:52 AM

Fidelity doesn’t know what you paid for the asset sold. You have to report that based on your records or research. If you are unable to do that, the IRS assumes that the basis is zero.