My 1099-B Lacks Important Tax Data and Guidance
Here’s a summary of the main problem and solutions discussed:
- Main Problem: The user, Chris Short, is facing issues with a missing data on their 1099-B, particularly regarding state/federal tax withholdings and cost basis, which complicates their tax preparation.
- Solution Options Discussed:
- Contacting Fidelity for assistance and waiting for their response.
- Manually gathering necessary transaction data, although Chris finds this option very challenging.
- Using the Fidelity mobile app to check tax information for closed positions and currently active positions as a potential resource.
- Fidelity’s representative, FidelityEmily, offered to gather more information to provide accurate assistance and suggested contacting them via Modmail for secure communication.
Here’s the full thread
My 1099-B is missing data like state/federal tax withholdings. It’s really causing a lot of issues trying to get my taxes done. Is there anything Fidelity can do to help me get this per transaction data?
For a 1099-B there is nothing to enter as far as federal or state withholding, but there is a cost basis for the stock which will reduce the gain and therefore the tax.
My cost basis is 0
for every transaction
That’d be very helpful information
As I do have tax withholdings setup
So you have 0.00 in 1e?
Correct. 0s all the way down. A lot of line items for three vesting events.
My Proceeds and Gains are equal making my tax bill something like $27,000 and that’s just not right.
Only option is either wait for the fidelity team to come back on monday, give them a call, or manually find stuff yourself and enter it in I guess
Yeah… The manual part is VERY, VERY hard
Any tips there?
Atleast on the mobile app, idk about pc but here’s this for closed positions
Tax Info YTD
Closed positions
And your normal All Positions page for currently active ones
Idk if that will give you the info you need, but worth a check
thank you very much for the help
NP, hopefully it’ll help so you don’t need to manually calculate things atleast lol
yeah… i’ve got like fractional transactions in here somehow and have no idea how to figure that out.
Hey there, @Chris Short. Apologies for the delay here. We appreciate you reaching out to us.
We’d like to learn more to ensure we provide you with the most accurate information regarding your question. Please tell us the type of account you hold with us and more about the information you’re missing. The more detail you can provide, the better!
Additionally, it’s possible that we may need to review your account to provide the best assistance. To do so, you can also reach out to us via Modmail message on our subreddit, r/fidelityinvestments. There, we have the ability to connect through a more secure channel.
Regardless of your follow-up preference, we look forward to learning more and assisting you! 🟢