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Theo52
February 27, 2023
Question

Reporting Investment Income

  • February 27, 2023
  • 1 reply
  • 0 views

My investment income from Fidelity Investments is reported on a Summary 1009-Misc form as there are literally 100's of transactions for this one actively managed fund. When using TurboTax it only has one dropdown list for categorizing the proceeds, short-term covered, long-term covered, etc. Some of my proceeds are short-term and others are long-term. How do I report these 2 difference amounts?

    1 reply

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    GeorgeM777
    February 27, 2023

    Was the basis for these transactions, both short-term and long-term, reported to the IRS?  If so, you can aggregate the short-term transactions and report them on Schedule D.  You can do the same with the long-term transactions.  

     

    @Theo52 

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