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J
joflom
February 28, 2021
Question

I did a refi on my reverse mortgage and am not getting regular payments from it but received a 1099B. What do I do with it?

  • February 28, 2021
  • 1 reply
  • 0 views
Same question.

1 reply

T
ThomasM125
March 2, 2021

A form 1099-B is used to report investment sales. If you didn't have any taxable gain on the transaction, you can list your cost basis for the sale equal to your proceeds, and the net gain will be $0.

 

You enter your form 1099-B in TurboTax by using these menu tabs:

  1. Income and expenses
  2. Investment income
  3. Stocks, Mutual Funds, Bonds, Other  

You will see an option to change the cost basis reported on your form 1099-B if it is wrong.

 

 

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