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JD-X
Returning Member

How do I enter the Form 1099-B received from Citibank NA containing the sale of all myholding of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

How do I enter the Form 1099-B received from Citibank NA containing the sale of all my holdings of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

4 Replies
Bsch4477
Level 15

How do I enter the Form 1099-B received from Citibank NA containing the sale of all myholding of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

When reporting the sale of the asset you will be asked if you want to download it or enter it manually. The purchase of the other asset doesn’t have to be reported. 

JD-X
Returning Member

How do I enter the Form 1099-B received from Citibank NA containing the sale of all myholding of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

The transaction was caused by Shire plc being acquired by Takeda Pharmaceutical Company Limited effective 01/08/2019.

I did not "sell" it.  I would think I would be taxed on the sale if I enter it as you suggest.  Is there some other way of entering the transaction.  I am not an accountant but am only 86 years old, so any other suggestions would be appreciated!

SteamTrain
Level 15

How do I enter the Form 1099-B received from Citibank NA containing the sale of all myholding of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

There's some details about it on one website belsw......I don't know how it's done in TTX, but I know there's a few folks out here that do:

________________________

This seems like a lot of gibberish to me...but does have a lot of incomprehensible details (right or wrong?)

 

https://www.iclub.com/faq/Home/Article?id=626&category=27&parent=26#:~:text=This%20merger%20is%20a%2...

__________________________

 

And here's a prior discussion on TTX, with no clear detailed solution that I can see....yet.:

 

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/shire-takeda-merger/0...

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Bsch4477
Level 15

How do I enter the Form 1099-B received from Citibank NA containing the sale of all myholding of Shire plc and the simultaneous purchase of Takeda ADS? Is there a way TurboTax can be made to make the entry rather than having to enter it manually?

It is complicated so you would be well advised to seek professional help. This site describes the process for reporting the sale and purchase. 

https://www.iclub.com/faq/Home/Article?id=626&category=27&parent=26

 

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