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    lms1999's Avatar
    lms1999 Posts: 1, Reputation: 1
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    #1

    Apr 24, 2009, 05:22 PM
    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?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 24, 2009, 10:07 PM

    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.
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