I received a 1099-B from E*Trade, but it doesn't show Box 4 on the form for Federal Taxes withheld. I'm pretty sure that some taxes were paid when the shares were purchased via my employer, but it was years ago so I am not sure.
Box 4 is Federal Tax Withholdings. When you say Box 4 is missing do you mean that Box 4 is blank? If so, is not unusual that Box 4 would be blank on a 1099-B. Typically, tax withholdings are not withheld from stock sale transactions. Unless you specifically requested withholdings from trades then it will be blank.
If you feel it is incorrect, I would contact customer services at E*TRADE to clarify.
I would understand if the Box 4 was blank or showed $0, the problem is that I can't find where the Box is on my 1099 consolidated. I thought there was another 1099-B form they would send me, but I read online that this is it. And should have all the information I need? But I don't see anywhere on this form where it says federal or tax withholdings!
If you bought the shares through work, the withholding would have been on your W2 back then. I don't know how all that works. @macuser_22 or who?
@VolvoGirl wrote:
If you bought the shares through work, the withholding would have been on your W2 back then. I don't know how all that works. @macuser_22 or who?
Box 4 on a 1099-B is for tax withheld at the time of sale, not the time of purchase. Usually no tax is withheld unless the account owner specifically asks for it.
The stock sold was part of an employee insentive program years ago. My issue is that I don't recall if they were taxes payed up front, and it makes sense that I have to pay taxes on the gains. My issue here is that the only form E*Trade provided is a 1099 consolidated. Nowhere in these pages there's a box 4 or the box for the state taxes withheld. Do I just assume they are $0?