How do I enter a 1099-B for a partial share sale of a stock. It says SPIN OFF CIL-COMBINED. The Noncovered box is checked. How do I enter it? Longterm Noncovered or ??
How do I enter a 1099-B for a partial share sale of a stock. It says SPIN OFF CIL-COMBINED. The Noncovered box is checked. How do I enter it? Longterm Noncovered or ??
Noncovered means that the cost basis for the stock was reported to you but not to the IRS, so you will need to enter that in the form. The basis is the amount you have in the stock, such as the purchase price and any fees. That is subtracted out of the sale price to get the gain, which is the taxable amount. Long means you held it longer than one year. So if you had it more than one year and the uncovered box is checked, enter as longterm noncovered.