Question

2023 1099-B Box 6 Reported to IRS: Gross Proceeds with only 1d Proceeds populated

Forum|Forum|2 years ago
February 19, 2024
1 reply
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I have a single 1099-B where the only information populated is:

1c: Date sold or disposed

1d: Proceeds

5: if checked, noncovered secuirty X

6: Reported to IRS: Gross proceeds X

Everything else is blank, and have no Cost basis and Even #2 doesn't have Short-term gain or loss, Long-term or ordinary selected. No other sales information provided. TurboTax won't let me proceed without filling in a Date Acquired and Cost basis. How is that possible if that is blank on my 1099-B?

J

JulieS

Yes, when you sell an investment that is reported on 1099-B, you have to report not just what is on the form, but also the date you bought the investment and what you paid for it.

Form 1099-B is used to report the sale of stocks, bonds, mutual funds and similar investments.

You can contact the payer that gave you the 1099-B, or look at your documentation for the missing information. Most brokers will give you a statement that says something like Details of 1099-B transactions. Follow this link for help with finding this information.

If you really can't get the information, or you don't want to bother, you can fill in the date acquired with "Various" and enter $0 for your cost basis. That will make the entire amount in box 1d a taxable gain, but if it's a small amount it won't make much difference.

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