Stock sold to corporation, no 1099-B

[Margaret CPA in OH]

New client received stock (never actually in her hands) in divorce.  Stock was held in husband's name in closely held business.  That company bought 300 shares for $143,000 and provided Form 1099-B.  A company that invested in that business bought 300 sh from client for $143,000 and insists they are not required to report on this form.  So do I just use Form 8949 Box "F-LT-Form 1099-B not received"?  Seems that is no matching possibility or proof of cash received.  Is this an issue for which I need to be concerned?

[Max W]

I would want to see a cancelled check, or some paper trail substantiating the purchase. I would never let a client "set" their own basis on such a large amount.

[Margaret CPA in OH]

Thanks for the reply.  However, my client received the money, not paid it out.  The basis to my client was documented in the divorce paperwork.  I have no control over the company that bought the stock from her properly recording what they paid for it.  I believe my client received the $143,000 and believe the basis in the divorce document.  I'm just not used to reporting stock sales without a 1099-B.  As ATX has an option that none was received, guess I will just go with that!

[jasdlm]

I wouldn't expect a 1099-B on a stock sale from a closed corporation.  I would report on 8949 with no 1099 received.