topic I sold stock in 2018. Claimed the sale on my taxes. My 2020 1099-B from Fidelity list the same stock quantities and date acquired that i sold in 2018. What should i do? in Investors & landlords

I sold stock in 2018. Claimed the sale on my taxes. My 2020 1099-B from Fidelity list the same stock quantities and date acquired that i sold in 2018. What should i do?

blaine-mary — Sun, 14 Mar 2021 00:00:30 GMT

I sold on March 5, 2018 shares that i acquired at 7 discrete dates. The same 7 quantities and acquired dates are listed on my 2020 1099-B from Fidelity as stock i sold on August 25, 2020. Fidelity is reporting the sale twice. How do i address in TurboTax?

Re: I sold stock in 2018. Claimed the sale on my taxes. My 2020 1099-B from Fidelity list the sam...

JohnB5677 — Sun, 14 Mar 2021 18:15:11 GMT

That does not make sense, and TurboTax does not provide a place to enter transactions from 2018.

Double check your 1099-B
Be sure you didn't download 2018 by mistake.
Check each of the sales and be sure they are the same stock.
What date of sale do they have? Is it in 2020?
As a last resort you should contact Fidelity to confirm the transactions on the 1099-B

If you determine that the transactions are legitimate you can post it to:

Income & Expenses

Scroll to Stocks, Mutual Funds, Bonds, Other
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
From here, you can import or manually enter your 1099-B.
Answer the questions about your sales. Choose to Enter sales one by one when asked.
On the Now, we'll enter one sale on your 1099-B screen, enter your info.

Re: I sold stock in 2018. Claimed the sale on my taxes. My 2020 1099-B from Fidelity list the same stock quantities and date acquired that i sold in 2018. What should i do?

jtax — Sun, 14 Mar 2021 18:29:14 GMT

If Fidelity really is reporting a 2018 sale as occurring in 2020, you will have to contact them and get them to issue a corrected 1099. Or explain why the sale was in 2020 and not 2018.

You must report the capital gain in the year in which you sold the stock. You cannot report it in a different year.

Re: I sold stock in 2018. Claimed the sale on my taxes. My 2020 1099-B from Fidelity list the same stock quantities and date acquired that i sold in 2018. What should i do?

fanfare — Mon, 15 Mar 2021 03:13:42 GMT

Look at your Fidelity statement for that date.

What happened on Aug 25, 2020 ?