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Level 1
April 14, 2021
Question

1099-b with no cost basis

  • April 14, 2021
  • 2 replies
  • 9 views

hello, 

thank you if guide me how to file.  tax payer have a 1099-B with zero cost basis and  sale price is $ 23000, also tax payer have a separate  W2 box12 with code V for 26000, should i put the V amount on cost basis?

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2 replies

Just-Lisa-Now-
Intuit Community Champion
April 14, 2021

yes, assuming everything that was included on the W2 as Code V was all sold

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
BobKamman
Level 15
April 14, 2021

But is that a reasonable assumption?  A $3,000 loss in a short time?  Or did he keep some of the shares?