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February 20, 2022
Question

Why are the sales proceeds and cost basis so high on my 1099-B?

  • February 20, 2022
  • 1 reply
  • 0 views

Urgent, hello I'm wondering why both of my proceeds and cost basis is so high and if that's normal? While doing my taxes I noticed that my proceeds and cost basis was over $250,000 when I only invested about $30,000 with a loss of about $5000. I'm 100% sure that at no point did I have $250,000 in my account, I just want to make sure this is normal so I can stop panicking. 

    1 reply

    Employee
    February 20, 2022

    Doesn’t sound right. Contact your broker.