Question

If the cost basis on my 1099-B shows "unknown" do i populate zero in this field

Forum|Forum|5 years ago
February 6, 2021
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TurboTax Premier Online

If Form 1099-B lists Cost as "Unknown", you are responsible for providing that information from your own records.

When reporting the sale of a security, enter your cost basis (what you paid for the security) in the Cost or Other Basis field (Box 1e of Form 1099-B).

When the issuer of Form 1099-B enters "Unknown" in the Cost or Other Basis field, it means they don't know what you paid for the security (or its value when you inherited it or received it as a gift).

What is the definition of "Cost Basis"?