☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 5:53:49 PM

Question on 1099-B - now under Brighthouse - entries for 1099-B - stock basis cost zero. form 1c,1d #4Proceeds #5 Federal Tax #6 - Noncovered Security

First year receiving 1099-B - listing is not like Turbo tax - plus federal tax withheld - where does withholding go ?

0 1 1223
1 Best answer
Level 7
Jun 4, 2019 5:53:50 PM

First, those additional boxes will show up as you continue to enter information (be sure to select the link to 'Add additional information').

Second, some additional information.  Did you originally acquire Brighthouse as part of a spin-off from METLife? 

If you held METLife stock prior to 2000, you should be aware that in February 2000, METLife converted to a "Demutualized" stock issue.  The IRS determined that the 'cost basis' of those Demutualized shares should be treated as zero.  http://www.costbasis.com/stocks/demutualizationshares.html


1 Replies
Level 7
Jun 4, 2019 5:53:50 PM

First, those additional boxes will show up as you continue to enter information (be sure to select the link to 'Add additional information').

Second, some additional information.  Did you originally acquire Brighthouse as part of a spin-off from METLife? 

If you held METLife stock prior to 2000, you should be aware that in February 2000, METLife converted to a "Demutualized" stock issue.  The IRS determined that the 'cost basis' of those Demutualized shares should be treated as zero.  http://www.costbasis.com/stocks/demutualizationshares.html