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Level 2

Solved

1099-B

Forum|Forum|3 years ago
March 3, 2023
1 reply
6 views

I received a 1099-B from MetLife because I sold all my shares there and closed the account. Turbo tax is asking for amount in 1d which I have. It's also asking for amount in 1e. There is no 1e on this 1099B nor is there a box 2 or 3. Do I just put in $0.00? I'm assuming this is long term as this has been held for a long time- over 1 year (not sure of start date). Box 5 is also checked

Best answer by tmunoz

Box 1e for cost or other basis is the amount of money you have in the shares, such as the price you paid for them. The basis will be subtracted out of the proceeds in Box 1d, to get the gain, or profit to be taxed. Metlife should be able to give you the basis. If you purchased the shares in different batches, they may have a different basis for ones purchased at one time from another. If they are all from the same date, you can use a tool such as the Nasdaq Historical Data to look up the purchase price on that date.

Yes, if you held it longer than one year, it will be considered long term gain or loss for Box 2.

Box 3 is often blank and only checked if it was reporting a sale of collectibles or if it was a Qualified Opportunity Fund.

tmunozAnswer

Level 13

Box 1e for cost or other basis is the amount of money you have in the shares, such as the price you paid for them. The basis will be subtracted out of the proceeds in Box 1d, to get the gain, or profit to be taxed. Metlife should be able to give you the basis. If you purchased the shares in different batches, they may have a different basis for ones purchased at one time from another. If they are all from the same date, you can use a tool such as the Nasdaq Historical Data to look up the purchase price on that date.

Yes, if you held it longer than one year, it will be considered long term gain or loss for Box 2.

Box 3 is often blank and only checked if it was reporting a sale of collectibles or if it was a Qualified Opportunity Fund.

Lil11Author

Level 2

Thanks TeresaM for the reply. Answered my questions!