Non-IRA account

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!

posted

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.

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