I received a 1099-b from my company because the broker had sold some of my stock to pay off taxes. I don't know what to do with this form as I am filing my own taxes via turbo tax. Please help.
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I received a 1099-b from my company because the broker had sold some of my stock to pay off taxes. I don't know what to do with this form as I am filing my own taxes via turbo tax. Please help.
You don't need to do anything with the 1099-B, except to make sure that you have entered all your stock sales on Schedule D and that the sales amounts equal what your broker reported on y;our 1099-B. The IRS looks to see that the total of all sales you report on Schedule D equals the sum of all 1099-B forms you receive.
Ebaines, Thanks for the info. I have not sold any stock in 2007. This is company stock which I rarely mess around with. Since I did not sell any stock, do I need to still fill out a schedule D for the 1099-B (even though the stocks were sold for tax reasons)?
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