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Trying to figure out a question about sale of stock on 1099B. One line has an X at the beginning and the other a D. One was reported as long term to IRS & the otherisnt

Forum|Forum|7 years ago
June 6, 2019
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The X line shows a total gain from the proceeds, so is that right?

TurboTax Premier Online

Best answer by TomYoung

The line ("trade" I assume) with the X almost certainly means that the broker is not reporting the holding period, probably not the basis either. This information needs to come from your own records.

The line with a D probably is the sales category, namely "long term" and "basis reported" to IRS.

Tom Young

T

TomYoungAnswer

Employee

The line ("trade" I assume) with the X almost certainly means that the broker is not reporting the holding period, probably not the basis either. This information needs to come from your own records.

The line with a D probably is the sales category, namely "long term" and "basis reported" to IRS.

Tom Young

J

j9hamilAuthor

Thanks Tom, that makes sense. How would I go about getting that cost basis information and type of gain or loss? Also, this is checked as a "non-covered" security...does that make a difference in what I'm asking or what does that mean?