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Form 1099-B with only Box 1d, proceeds, and 1c, Date, completed.

My company was sold in 2021.

I had vested RSUs which I purchased.

I also had two groups of options I purchased (at different prices/stock).

The company sent me the Form 1099-B with only the total proceeds in box 1d, and the date.

Can I file with just the proceeds amount?

TbTax stops the screen entry and wants the "Cost or other basis" in Box 1e.

 

I also received another Form 1099-B with only the proceeds entered for a return on capital investment I made with the company.  Why would I get a Form 1099-B for this type of investment return, which is basically interest paid on my cash investment.

 

Thanks

Stan

 

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1 Reply
GeorgeM777
Expert Alumni

Form 1099-B with only Box 1d, proceeds, and 1c, Date, completed.

Yes, you can file with just a 1099-B; however, you will need to separately determine the cost basis for the RSUs you sold.  The firm that issued the 1099-B does not know your cost basis, and thus, the cost basis box is probably blank.  If you do not want to pay tax on the entire proceeds amount, you will need to enter your cost basis for the RSUs.  

 

The value of RSUs is typically recorded in Box 14 of the W-2, which is labeled "Other."  Box 14 doesn't have a standard list of codes, thus allowing employers to enter any description they like. You might see the value of your vested stock followed by "RSU."

 

For example, let's say you have $100,000 reported in Box 1 as wages and $10,000 reported in Box 14 labeled as RSUs. The $10,000 has already been included in the $100,000 amount, so you don't have to add the RSUs in Box 14 to your wages when you file your taxes.

 

Regarding the second 1099-B you received, if the amount shown is a return of capital, then you would not pay tax on that amount.  You would include such amount on your return with the cost basis being equal to the proceeds amount.  If you received interest on your capital investment, then report the interest on your return.  Usually, in a 1099-B (which is a consolidated statement because it combines dividends, interest, and transaction information all in one report) there will be a section for 1099-INT which is where you will typically find interest paid.  However, even if you don't have a 1099-INT section, just report the interest you received.   

 

@SCurling1

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