Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Paying Taxes on Milestones and Escrow Acct from Sale of Company (https://www.askmehelpdesk.com/showthread.php?t=345704)

  • Apr 24, 2009, 05:22 PM
    lms1999
    Paying Taxes on Milestones and Escrow Acct from Sale of Company
    We received two 1099-B's, one for the escrow account from the sale of a company two years ago, and another for a milestone payment from that same company. I don't know how to handle the 1099's using TurboTax. Is it Undistributed Capital Gains? Stocks/Mutual Bonds/Other? I would have just called it Gross Income, but evidently U.S. Bank disagrees and sent me a 1099-B?
  • Apr 24, 2009, 10:07 PM
    MukatA

    You may need an accountant to handle this. 1099-B may be for the sale amount of the company. Now you may have a profit or loss depending upon the assets of the company.

  • All times are GMT -7. The time now is 09:27 PM.