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mcd1231
Level 4
March 12, 2021
Question

Sale of stock to pay brokers fees

  • March 12, 2021
  • 3 replies
  • 30 views

My client received a 1099B with $15 in gross proceeds and a cost basis of $6 to pay an investment fee from the brokerage house.  Is there some where else to report that other than Form 8949 to report a $9 gain?

 

Thank you for your advice.  

This topic has been closed for replies.

3 replies

sjrcpa
sjrcpa
Level 15
March 12, 2021

No.

The more I know the more I don’t know.
    BobKamman
    BobKamman
    Level 15
    March 12, 2021

    I've been known just to report $15 as "other income," especially when it doesn't make a tax difference, but that's dreadfully wrong and I should probably tell my friend the priest about it. 

    Your client is probably a gold bug, he's not paying his broker he's paying the ETF that stores the stuff. 

      PJB
      Level 2
      March 12, 2021

      no.  must use Sch D to report 1099-B activity

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