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Level 2

Question

1099-B 1e line blank

Forum|Forum|2 years ago
March 11, 2024
3 replies
30 views

Hi,

For long-term gains, the 1e cost basis field is blank. Anyone know what to do? I don’t know how to calculate it. The 1099-B from Fundrise.

TurboTax Deluxe Online

Level 15

Yes, your cost basis is what you paid for an asset, including some adjustments for commission, wash sales, etc.

Generally your cost basis is on your 1099-B, but if your broker doesn't have your basis, or isn't required to report it to the IRS, you have to go looking for it.

The first thing you want to look for is the Details of 1099-B, which should be included with your Consolidated 1099 statement. The basis may be listed there.

If you don't find it there, you can contact your broker, or follow this link for help with finding this information.

If you really can't get the information, or you don't want to bother, you can enter $0 for your cost basis. That will make the entire amount in box 1d a taxable gain, but if it's a small amount it won't make much difference.

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Ks5120Author

Level 2

Thanks! Do I still have to mark the section that says “missing or blank” when I enter zero?

its on $36 for myself and $57 for my husband, I really don’t care about being taxed on it - I just don’t want to be audited!

Level 15

No, you can just enter $0 or leave the entry blank, you don't have to check the missing or blank box.

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