Question

I got a 1099-B for stock my company gifted me that I liquidated. I'm unsure if that's ISO or common stock? I don't understand the form. Help?

Forum|Forum|5 years ago
March 13, 2021
1 reply
0 views

Box 1a says my employer and Common Stock. Do I treat this like I bought stock at zero dollars or ISO or something else?

TurboTax Premier Online

Whether it was ISO or common stock doesn't matter for tax purposes. The length of time you hold the stocks and basis of the stock are the most important factors. Your 1099-B should show both, the time and the basis, as well as amounts you received when you sold the stock. You need to enter the form information exactly as it shown. Most likely you have 0 cost basis there, since the stock was gifted to you.