How do I enter insofar 1099-B for Unclaimed Property if 1099-B only lists one figure in box 2 ($3,297.36) and a Date of Sale (Box 1a)? Nothing else that TurboTax wants.

We submitted a claim for unclaimed property last year. I believe this from stock sales from a relative who passed away. I was executor. but have no idea about the shares she owned/sold.

342

Expert Alumni

Feb 16, 2021 1:10:18 PM

@booleFoole

To enter the 1099-B click here.

For the date acquired, enter the relative's date of death.
For the cost basis of inherited stock, it's generally the market price of the stock on the date that the benefactor died. If you don't enter any amount as the cost, all the sales proceeds will be taxed.

Document how you arrived at the date and amount. Keep the information with your tax records.

[Edited 2-16-2021|1:12 pm PST]

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How do I enter insofar 1099-B for Unclaimed Property if 1099-B only lists one figure in box 2 ($3,297.36) and a Date of Sale (Box 1a)? Nothing else that TurboTax wants.