turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Reporting small Cash in Lieu

Hello - just a question please on reporting cash in lieu

 

I have a 1099-B with a small cash in lieu payment from a spin-off.  It's shown on the last page "other investment activity" section in the 1099-B - so not in any table or "box" #.  I know the dates, and the basis, and its long term from 2011, etc..  This other transaction does not show with the 1099 import so i'm assuming i need to add manually.

 

What's throwing me off is the TurboTax desktop instructions.  The new automated instructions when you click 1099  "add more sales" goes through a series of questions saying enter your data must be "exactly identical to the 1099" and it asks what box number it shows up.  Just confused about what to select

 

- is this long term basis considered reported or not reported (since its in an other section of the 1099)

or is it long term basis did not receive 1099 form (since its not formally in a "box")

 

- also do i select the checkbox that says "basis missing from 1099 form" or ignore this

 

thanks for any help !

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DavidD66
Expert Alumni

Reporting small Cash in Lieu

You should select Box F.  The question about the cost basis being incorrect or missing is irrelevant in this case.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

3 Replies
DavidD66
Expert Alumni

Reporting small Cash in Lieu

The "Other Information" is not actually part of the Form 1099-B.  It is just reported along with it.  You should enter it as if it was not reported on the 1099-B.  If you enter as if it was reported on the 1099-B then check the box for "basis missing...".   

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Reporting small Cash in Lieu

thanks so much for the info - that makes sense

 

just as a quick follow up - this is a long term item - should i select "long term basis not reported to IRS (non covered) BOX E" or "unknown term basis not reported to IRS" or "long term did not receive a 1099 form BOX F"   (i'm thinking the Box F may be the right one?)

 

Also I wasn't planning on checking the box "The cost basis is incorrect or missing on my 1099‑B" as i'm not sure what that does in the software

 

thanks again for any help

DavidD66
Expert Alumni

Reporting small Cash in Lieu

You should select Box F.  The question about the cost basis being incorrect or missing is irrelevant in this case.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies