topic How should I report a cash liquidation distribution when no 1099-B is reported to the IRS? in Retirement tax questions

How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

cpbette — Mon, 09 Mar 2026 08:59:36 GMT

Specifically how do I enter the transaction in the interview form?

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

JohnB5677 — Sun, 06 Mar 2022 15:31:14 GMT

You will enter the liquidation as if you were entering a 1099-B.

Go to Wages & Income

Scroll to Investments and Savings
Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Time to kick off your investments! = Okay
Time to kick off your investments! = Continue
Let's import your tax info = Enter a different way
There are five boxes available
1. Interest
2. Dividends
3. Stocks, Bonds, Mutual Funds
4. Cryptocurrency
5. Other
You will select Stocks, Bonds, Mutual Funds

You will then go through an interview process to describe the sale.

You will have to have information about

How you acquired the asset. (Purchased, gift, etc.)
Is it Long/Short term
It was not reported to IRS
Date of sale
Proceeds (Liquidation amount).
Purchase date
Purchase price

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

SweetieJean — Sun, 06 Mar 2022 15:55:49 GMT

Since you are asking from the Retirement section, did you liquidate a retirement account? If so, you should have received a 1099-R (not a 1099-B), which is entered here:

Federal > Wages and Income > Retirement.

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

cpbette — Wed, 09 Mar 2022 00:31:26 GMT

Thanks JohnB5677. It solved my problem.

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

tomandjerry1 — Tue, 09 Apr 2024 18:26:16 GMT

This answer applies to my situation too. I held some shares of Yahoo which I purchased in 2000 and than were subsequently converted into shares of ALTABA in 2017. Then the ALTABA liquidation began in 2019 and I started to receive distributions reported in box 9 of my 1099-DIVs for 2019 thru 2023. The final distribution occurred 2/17/20. I created a 1099-B entry using 2/17/23 as the sale date, the sum of all the distributions as the sales price, the date my YAHOO got converted to ALTABA as my purchase date, and my original YAHOO purchase as basis to record the long term loss. It's my understanding that TTAX would not have included any of the prior box (9) Cash liquidation distributions from my earlier 1099s as taxable income

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

DaveF1006 — Thu, 11 Apr 2024 22:38:26 GMT

Yes this is correct. Any liquidating distribution you receive is not taxable to you until you have recovered the basis of your stock. After the basis of your stock has been reduced to zero, you must report the liquidating distribution as a capital gain.

As far as the basis, your original stock basis will be used unless you received new shares of stock in the conversion.

If you weren't able to recover your original basis, then this is reported as a loss, which I assume happened in your case.

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

Dean68 — Sun, 16 Feb 2025 19:57:08 GMT

I am trying to do this with the Premier version of TurboTax 2024. The menu is different. Can you explain how to do this with TurboTax 2024 Premier? Thanks

Re: How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

MarilynG1 — Wed, 19 Feb 2025 03:16:56 GMT

Go to Wages & Income > Investments > Stocks, Crypto, Mutual funds, Bonds, Other.
Choose Stocks (1099-B) as Investment Type. Enter Bank Name, Continue.
Answer the questions on the next page, then Enter One by One, Continue.
Then you'll get a screen with entry boxes for details, Date Purchased (can be various), Date Sold, Proceeds, Cost Basis (most important).

@Dean68