Should I select the option 'I received cash in Lieu of fractional shares' for Box 'How did you receive this investment' in form 1099B for stock spin-off distribution?

Forum|Forum|6 years ago
March 14, 2020
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TurboTax Premier Online

TomYoung

Employee

If indeed that's the case - a stock you owned spun off another company, issued you whole shares and did a CIL for the fraction of a share that you should have received - then that sounds fine to me.

hpmjcurry

That is a great answer but that selection is not offered as an option in my version of TurboTax. It is part of the info section but not offered in the selection box so WHAT NOW? 🙂

PatriciaV

Employee

If the cash in lieu of shares was reported as Other Information (not on Form 1099-B), enter this as "not reported on Form 1099-B." Your answer for "How did you receive this investment?" is that you purchased it.

If you do enter as reported on the 1099-B then check the box for "basis missing..."

@hpmjcurry

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