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fesemagu
Level 3
March 17, 2025
Question

Form 1099-B Proceed and Cost basis

  • March 17, 2025
  • 2 replies
  • 15 views

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

This topic has been closed for replies.

2 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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