Unknown Term Gains or Losses on Gross Proceeds" on 1099-B: Proceeds from Broker and Barter Exhange Transactions.

Forum|Forum|1 year ago
April 9, 2025
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I have a transaction under "Unknown Term Gains or Losses on Gross Proceeds" on 1099-B: Proceeds from Broker and Barter Exhange Transactions. Stock name, date sold, and proceeds have info but the others are N/A. Additional info has "Cash in Lieu." How should I report it in Turbo tax? Looks like it doesn't accept transactions with no cost and date acquired. The amount is less than $40. Thanks.

Ask the Experts - Tax Due - April 2025

JamesG1

You may have to refer to your personal records including sales tickets to locate the information that is needed.

When reporting the IRS form 1099-B information:

Enter the cost information. Select The cost basis is incorrect or missing on my 1099-B. Continue.
At the screen We noticed there's an issue with your cost basis, select I know my cost basis and need to make an adjustment. Continue.

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