Do I need to include stock sale less than $20 if I did not receive a 1099-B?

Forum|Forum|3 years ago
March 10, 2023
2 replies
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I actually don't know if it was an personal stock sale. I received a check from the "Spin off" (?) transaction from a company I didn't own stock in. I'm guessing it had something to do with the company I did have stock in and this other company. I deposited it based on the instructions, but the broker I manage the accounts through do not provide a 1099-B for this.

I wouldn't have even known about it except that Turbo Tax connected to the company and detected that check as "Proceeds." Now it wants me to upgrade to Turbo Tax Premium which is $120, because I deposited a check for $13...

What should I do? Can I leave this off my return since I didn't get a 1099-B?

TurboTax Deluxe Online

Mike9241

all items are supposed to be reported. what the IRS will do is not known. your choice.

ErnieS0

Yes. All worldwide income is reportable and taxable as Tax Champ Mike9241. The proper treatment is to report this as the sale of a security.

In a spinoff, it’s possible that you received cash in lieu for the sale of a fractional share of your old company’s stock. In that case, you will have a cost basis.

Most companies will have a shareholder’s guide on their website telling you how to handle your payment. You can also contact investor relations.

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