Message Font: Serif | Sans-Serif
No. of Recommendations: 1
called broker and they explained there is a non-obvious way to distinguish: on the 1099B, if box 6 is checked, it was an "uncovered" security and basis for such not reported to IRS

I hate to pile on, but one additional caution which may or may not apply to the software you're using.

Depending on the transactions reported a return can require as many as six of the Forms 8949: long-term A, B, C and short-term A, B, C. You'd think that the software would automatically produce all the necessary forms.

Yours may, but TaxWise, which is what we use in VITA/TCE, doesn't. After you've entered all the transactions you have to go back and generate 8949's if you need more than one.

Rule Your Retirement Home Fool
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.