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Help24
Returning Member

1099-B with no cost or other basis

I received a 1099-B with no cost basis as a result of a non-qualified stock option sale (cashless) in 2023.  The only thing listed on the 1099 is proceeds.  All other boxes are blank except for one this checked for non-covered security.  I checked my W2 and nothing listed in Box 12.  How do I calculate my cost basis?

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3 Replies
ThomasM125
Expert Alumni

1099-B with no cost or other basis

Since it is a non-qualified stock option, you would have paid tax on the discount you received on the stock purchase in the year you acquired it. That will be added to what you paid for the security to determine the cost basis. You will have to do some research by going back to the year you acquired the stock to see what those amounts were.

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Help24
Returning Member

1099-B with no cost or other basis

I'm still confused.  I've attached a link from Turbotax that indicates that I add the discount element that was included on my W2 plus the exercise cost of the stock to get the cost.  I don't see anything about adding the taxes to the cost of the stock.  Can you clarify?  From the four examples in the article, mine matches the one where the options were exercised and the stock was sold in less than a year.  

 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/non-quali[product key removed]ns/L8zsxRi7...

AmyC
Expert Alumni

1099-B with no cost or other basis

Correct, the taxes are not added to the basis. I believe Thomas was saying that you did pay taxes and that word got stuck when he later meant to say exercised the option or fees.

The link you sent  does a great job explaining. If you understand the example, you are set! You have the cost basis part that you paid plus the compensation from your w2 along with any fees paid- not taxes, commissions paid to exercise the options, if any.

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