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fesemagu
Level 3
March 17, 2025
Question

Form 1099-B Proceed and Cost basis

  • March 17, 2025
  • 12 replies
  • 37 views

Is it okay to report taxpayer proceeds with a cost basis of zero? 

This topic has been closed for replies.

12 replies

IRonMaN
IRonMaN
Level 15
March 17, 2025

Yes, if that's what the cost was, but are you sure there is no basis?

Slava Ukraini!
    F
    fesemaguAuthor
    Level 3
    March 17, 2025

    Yes there is no cost basis

    F
    fesemaguAuthor
    Level 3
    March 21, 2025

    Thanks for your response. Taxpayer confirmed that  he is aware that it has no basis.

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