On 2016 tax return, how do I flag the fact that gross proceeds on fom 1099-B are proceeds of funds invested using after tax dollars, but on prelim return are included in total taxable income?
Thx!
0193
1 Replies
JohnB5677
Employee Tax Expert
Apr 2, 2020 11:23:29 AM
Proceeds represents the value of the sale of the stock. Cost basis is the amount that you paid for it. Your profit or loss is Proceeds minus Cost Basis = Profit/Loss.