You can avoid paying tax if the cost of your shares (including the amount that was included in your income) equals the sale proceeds reported on Form 1099-B. You’ll still have to enter Form 1099-B to zero out your sale proceeds with the cost of your stock. Type 1099-b in Search (magnifying glass) in the top right Tap Jump to 1099-b On “Your investments and savings” tap +Add investments Skip “Get ready to be impressed” You can either import your 1099-B info or tap Enter a different way to type in your numbers

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DP1976

Question

My old employer did a stock buyback, taxes were paid from the sale and reported on my W2. I also received a 1099B. How do I avoid paying tax again from the 1099 gains?

Forum|Forum|3 years ago
February 16, 2023
1 reply
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TurboTax Premier Online

ErnieS0

You can avoid paying tax if the cost of your shares (including the amount that was included in your income) equals the sale proceeds reported on Form 1099-B.

You’ll still have to enter Form 1099-B to zero out your sale proceeds with the cost of your stock.

Type 1099-b in Search (magnifying glass) in the top right
Tap Jump to 1099-b
On “Your investments and savings” tap +Add investments
Skip “Get ready to be impressed”
You can either import your 1099-B info or tap Enter a different way to type in your numbers

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