topic Reporting a small cash in lieu when there is no 1099-B in Get your taxes done using TurboTax

Reporting a small cash in lieu when there is no 1099-B

Click — Wed, 19 Feb 2025 19:57:15 GMT

Due to an ETF split last October, I have a $9.75 cash in lieu to report. However, everywhere I've read about how to handle this assumes there is a 1099-B. I do have a 1099-DIV that has dividends but $0 LTCG for this ETF.

In the supplemental information, it says I realized long-term gain of $9.75 that was "not reported on Form 1099-B or to the IRS". It says to report on 8949.

If I try to create an 8949 in forms mode, it says it will be automatically generated based on responses for Schedule D. I do not have a Schedule D generated because it isn't required for what I have.

If I go in Step-by-Step to handling broker statements and attempt to Add Investment, interview starts asking for information from the 1099-B and there isn't one.

Re: Reporting a small cash in lieu when there is no 1099-B

rjs — Wed, 19 Feb 2025 21:33:31 GMT

Don't take it literally when the Step-by-Step screen says to enter information from the 1099-B. Just enter the necessary information, as if it came from a 1099-B: description, date acquired, date sold, proceeds ($9.75), and basis ($0). For the "sales section" select "Long-term did not receive 1099-B form." It will be reported on Form 8949 with box F checked.

Re: Reporting a small cash in lieu when there is no 1099-B

VolvoGirl — Wed, 19 Feb 2025 21:43:36 GMT

You may still get a 1099B. I’ve been waiting for my cash in Lieu sale 1099B. I got it today. They had sent me a check for only 89 CENTS so I didn’t know if I would get a 1099B.

Re: Reporting a small cash in lieu when there is no 1099-B

Click — Wed, 19 Feb 2025 23:36:15 GMT

Well, that did it. Thanks.

I find it amusing that the same page whose first drop-down allows you to indicate you did not receive a 1099-B has a stern warning at the top that everything needs to match a 1099-B exactly.