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February 12, 2023
Question

Do I need to report "unknown term" that has a zero balance on a 1099B

  • February 12, 2023
  • 1 reply
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1 reply

February 12, 2023

Yes you must report the transaction (Sale proceeds and cost basis) to net the zero balance.  Otherwise the IRS might only see the sale and want to tax you on the that amount.