interest in a public traded partnership and investment expenses (Noncovered with undetermined holding period)

Forum|Forum|1 year ago
March 12, 2025
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I received a 1099-B for multiple stock transactions, and 3 were ones I can't identify how to handle

2 were very small transactions sold to pay investment expenses (total less than a dollar) and 1 was supposedly for sale of a Publicly Traded Partnership (related to a merger) showing about $20 in net proceeds. I ever got a 1-K related to the PTP transaction, and so am unsure how I would handle it,. the transaction was related to a merger of two entities As small as the amounts were, should I just leave the cost basis 0, and various for purchase dates

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ThomasM125

Yes, since you don't know what the cost basis is and the sale amount will have only a nominal affect on your income tax, you can enter $0 for the cost basis and various for the purchase dates. Also, you will be overstating your tax if anything, so the IRS would not likely take exception to what you are doing.

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