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