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Question

Sold stock in 2021 and filed capital gains, in 2022 received money held by company and 1099B shows 0 shares

Forum|Forum|2 years ago
February 25, 2024
1 reply
0 views

Sold stock in 2021 and filed capital gains in taxes, in 2022 received small amt of money held by company in reserve during sale. This years/2023 1099B shows 0 shares with a proceeds amount for the reserved money that was paid out. How do I report the cost basis if showing 0 shares? Do I have to report this?

Yes, if there is an amount in the 'Proceeds' box. The income is taxable whether or not you have a cost basis in the remaining shares. Zero shares does not indicate there is no gross proceeds. If you mean the proceeds amount is zero and you do have a cost basis you would want to report it to show your loss.

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ParrotHookAuthor

Proceeds has a dollar amount

No of shares = 0

Would I use the cost basis for the shares sold in the previous year already reported on my taxes last year or report $0 for the cost basis?

ParrotHookAuthor

This amount was held by the group selling the stock (going private to public) until company sale was final