topic Re: I retired in 2021 in Retirement tax questions

I retired in 2021

bekka6716 — Mon, 09 Mar 2026 11:47:05 GMT

None of the choices fit (like a nonqualified stock option). Also, there is no cost basis reported on the 1099-B. How do I know the basis of the stock they sold?

Re: I retired in 2021

MinhT1 — Wed, 06 Apr 2022 12:41:48 GMT

In principle, you should know the cost basis of the stocks you owned, as you became the owner by acquisition, inheritance or gift.

If you do not know or remember the cost basis, you should do some research to find it or make an educated guess for it, otherwise the whole proceeds will be taxable as capital gains.

Re: I retired in 2021

bekka6716 — Wed, 06 Apr 2022 14:57:03 GMT

I'm totally confused about how to report it. Is this considered employee stock? It doesn't seem to fit the definitions offered in TurboTax. And I did not receive anything from my company detailing the cost basis of the stock that they transferred from my 401K to the investment company's IRA. This stock was the company contribution in my 401K. So far my company doesn't have an answer--they said I should have it but I don't remember getting anything like that when I retired. Thank you for any help you can offer!

Re: I retired in 2021

MinhT1 — Thu, 07 Apr 2022 12:09:13 GMT

Please clarify.

You said the stock was transferred from your 401(k) to the investment company's IRA. Is the IRA in your name?

If that stock was sold within the IRA, then the form 1099-B is issued in the name of the IRA, not your personal name. In this case, you do not report it on your tax return.

Re: I retired in 2021

bekka6716 — Thu, 07 Apr 2022 19:05:40 GMT

Hi @MinhT1 - Yes, the IRA is in my name.

Re: I retired in 2021

GeorgeM777 — Fri, 08 Apr 2022 22:42:35 GMT

To follow-up on the comments from @MinhT1, it does not appear as if you have anything to report because the stock was transferred from your 401(k) to your individual retirement account (IRA). When you withdraw funds from your IRA, you will get a 1099-R, and you will report your 1099-R on your tax return. Some of the income on your 1099-R may not be taxable, but TurboTax will help you figure out how much tax is due.

@bekka6716