1099-b stock trade id

If you enter "0" as the cost basis, you will owe tax on the entire amount of proceeds long-term capital gain. If you can make a good-faith estimate on what was paid for the securities you sold, it will lower your tax on the proceeds.

You can research this online. One option is the Yahoo Finance website at: If you know when the stock was purchased, here are some tips:. People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:. Saved to your computer.

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I cashed out a small account I have had since I was a child and the amount of 1, Recommended Answer 1 person found this helpful If you enter "0" as the cost basis, you will owe tax on the entire amount of proceeds long-term capital gain. This article provides additional information that might be helpful: If you know when the stock was purchased, here are some tips: If your current broker was the selling agent, there is usually a wealth of documentation available in your online brokerage account that can help, such as detailed reports on each sale.

Look at previous broker statements Review your records for the trade confirmation when you bought the shares. It's always a good idea to save these for tax purposes. If you purchased the stock at different times, or haven't sold all the shares at once, you may have more than one trade confirmation statement.

SECURITIES TRADER

If not, they might still be able and willing to look up the historical stock price for you. It's generally acceptable to take the lowest and highest price from a given day and average them to arrive at a cost.

on b form my cost basis is blank, what should I put? I cash - TurboTax Support

These free services may not include events that affect basis, such as reinvested dividends, spin-offs and stock splits. Or you can call the company's shareholder services department for help.

For shares purchased more than 10 years ago, go to a public library or law school library and look for back issues of newspapers, such as USA Today, to find the high and low price on the date of purchase. How do I find a stock's cost basis if I don't know when it was purchased? What is the cost basis of inherited stock?

How do I determine the cost basis of stock I received as a gift? Was this answer helpful?

Reporting Multiple Stock Trades On Schedule D | H&R Block®

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