Question

Is the cost basis zero? Picture attached?

Forum|Forum|2 years ago
March 4, 2024
4 replies
0 views

Do the dots mean that the cost basis was 0?

Or does that mean I need to look up my previous statements because the transaction is an undetermined term transactions for noncoered tax lots?

Spino

Employee

The later--just like it says on the form 🙂

Spino

Employee

However, if your proceeds is 0, which is 0.04 rounded to the nearest dollar, your basis is probably pretty low too--or at least we would hope so. Otherwise you might have a big loss! That's never any fun.

M

Mike9241

the dots mean that the broker does not know the cost basis. The fact the broker says to report as type B or E means they don't even know the holding period. you blanked out the name of the security that might have helped. also, we don't know why there was a sale.

fanfare

Employee

For non-covered securities ( BOX B or E) showing zero (wrong) basis, enter the correct basis yourself.

Use code "B" and put -0- in col (g).

@Sorakairi89

S

Sorakairi89Author

Thank you so much for the help.

I have one more question, would this be considered any of these options or how would I find out?

Are these purchased items that expired?

Is this a disposal of worthless stock?

Are these sold items that expired?

M

MonikaK1

At the far right of the screenshot you included with your earlier post, the transaction is identified as "Sale". Contact the company or prior broker for more information.

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