I have a 1099-B from my bank. This is the result of owning stocks offered by the bank, for which I used to get a 1099-DIV. But last year the bank was bought by another company, and now I get no 1099-DIV, but a 1099-B instead.
The info on my 1099-B:
"Description" (Box 7): Cash-in-Lieu
"Gross Proceeds" (Box 2): 20.08.
That's all.
In the instructions for Form 1040, on the page titled, "Where to Report Certain Items...," the directions for 1099-B say, "See the instructions on Form 1099-B." The instructions on Form 1099-B don't tell me anything about where to put these numbers!
What does "Cash-in-lieu" mean? Where do I put this $20.08 on my return? Do I need Schedule D or not?
I've done my own taxes for years, but this is the first 1099-B I've ever had, and it's completely alien to me!
2007-02-16
16:30:33
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2 answers
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asked by
HiwM
3
in
United States