On the 1099B statement where it says Cash Basis does that mean that they have that amount of money in their account?

[HelenaC · Accepted solution]

No, cash basis is generally what you paid for that particular stock. TurboTax uses that amount to figure if you have a gain or a loss when you sell the stock.

Related information: 

• What is the definition of cost basis?
• How do I find a stock's cost basis?