Short-term gain reported as long-term on 1099-b/8949

Forum|Forum|3 years ago
February 15, 2023
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I am reviewing my 1099-B from Apex Clearing (Webull) and have noticed that the information for something listed as a "long-term" transaction does not match up with that information. The Date Acquired is listed as 12/05/2022 and the Date Sold as 12/07/2022 (2 days later - I even confirmed in my in-app trading history). It is my understanding that this would make it a "short-term" transaction.
Now, I am not really sure whether to defer to the actual dates (list this as category A - Short Term) or leave it as it's reported on the 1099-B (category D - Long Term) as that is how Apex reported it on their end.

*Other note: Looking further, it seems to have split this specific transaction up as I have a transaction for this same property with matching dates but stating the quantity as 608 having been sold (I had a total of 888, the remaining 280 being the problem listed above as long-term for some reason).
I have other transactions for this property sold 11-30-22 listed the same way, but their dates are listed as 'Various" which I assume explains their split.

Not A Product Question

Mike9241

call the broker. code D works to report as long-term with short-term dates but that doesn't mean this won't create a red flag for the IRS based on those dates.

my guess is that there was a wash sale somewhere along the line and when you have a wash sale the holding period for the old shares tacks on to the shares bought that cause the wash sale. I have never seen a wash sale presented how your broker did.

newtraderAuthor

Hello and thank you for the reply!
I sent them a message, but I will try calling as well. The red flag is what I am trying to avoid and this one transaction is the only one that seems like it would spark it (all my other long-term holdings state "Various" as their Date Acquired).
What's odd is that the portions of this specific stock listed in both Short-term and Long-term, both sold on 11-30-22, do actually note that they have Wash Sales (the long-term one is pretty much entirely considered a wash sale) in section 1g.
It's only the ones sold on 12-07 that state the wash sale as 0.00 and were oddly split up despite all having been part of the same sale (with matching information)