I purchased 200 shares of a company several years ago. Two years ago, they did a 100 to 1 reverse split, turning those shares to 2 and this month they did a 25 to 1 reverse split cashing out those 2 shares cash in lieu as there were not enough shares to reverse split.
The cash out represents a significant loss, but the cost basis shows up nowhere in my transactions and does not seem to be considered a loss. How would I report the actual loss? Why does this not appear on my 1099?
Thanks!
You'll need to sign in or create an account to connect with an expert.
you'll have to use your records to determine what you paid for the original shares.
there could be many reasons. One reason, the shares may have been acquired before the date for which the IRS requires basis reporting. Or perhaps there was a change in the company holding the securities in your account. For a definitive answer contact the broker
You enter the 2 shares as a sale. The cost is what you originally paid for the 200 shares. If you are using the Online version you need Premium to enter a sale. Or any of the Desktop installed program. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
basketball1981
Level 1
Jan Chabot
New Member
GS48
Level 1
ajsmall65
New Member
malakikh
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.