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March 23, 2025
Question

Realize gain or loss for 1099-B NOT report to IRS

  • March 23, 2025
  • 2 replies
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    2 replies

    JohnB5677
    March 23, 2025

    You must report this even if it is not reported to the IRS.

     

    • This may occur if you transfer stock between brokers or accounts.
    • If there was a transfer they may not have gotten an accurate cost basis.

    Also, prior to 2008 brokers were not required to record the stock basis of stocks or mutual funds.

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    sop2023Author
    March 23, 2025

    I understand I need to report this transaction.  But this meant I have to report a loss for the stock I did not sell in 2024.  I already reported the gain that I sold back in 2018. If I reported in 2024, is it double counting? 

    March 23, 2025

    what type of security?  on the 1099-B what is the type? 

     

    for types C, D, F, G and X, the broker is not required to report tax basis to the IRS though if you imported it the trade should appear on form 8949.  You are responsible for including this trade on your return.  perhaps if you provide more info we can provide more clarification. actual amounts and personal info like broker are not required

     

    sop2023Author
    March 23, 2025

    Security type is Stock, Box F stated on my 1099-B for this stock.  How do I report this transaction if I did not own and sell the stock (AMR) in 2024.  The gain related to this transaction (AAL) I already report back in 2018 when I sold the stock (AAL) distribution from AMR.  What is the correct way to report this?