Solved

Do I have to report or include proceeds from a "long term, non covered tax lot when my statement says cost base and gain/loss are not reported?

Forum|Forum|7 years ago
June 3, 2019
1 reply
0 views

No text available

TurboTax Premier Online

Best answer by CarolynM

Yes, you need to report the proceeds from a long term, non covered tax lot. You will need to provide a cost basis or the entire amount will be taxable income.

The broker does not know the cost basis, so you will have to determine this amount.

You can return to the financial adviser with whom you purchased the stock.

You can also use the date of the purchase and the quantity to determine the cost basis yourself.

Here is a tool that provides historical stock prices: Historical Stock Prices

C

CarolynMAnswer

Employee

Yes, you need to report the proceeds from a long term, non covered tax lot. You will need to provide a cost basis or the entire amount will be taxable income.

The broker does not know the cost basis, so you will have to determine this amount.

You can return to the financial adviser with whom you purchased the stock.

You can also use the date of the purchase and the quantity to determine the cost basis yourself.

Here is a tool that provides historical stock prices: Historical Stock Prices