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mohataza3
New Member

In form 8949 one transaction wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " should I amend?

I submitted my tax return but I made a minor mistake. For one transaction I wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " and this is wrong, it should have been reported under "(A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS". All other transactions are made correctly, should I amend?

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Accepted Solutions
DDollar
Expert Alumni

In form 8949 one transaction wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " should I amend?

I would not amend for this, as long as you correctly reported the amounts and the correct gain or loss for that transaction.  It won't have any impact on you tax.  There's a remote possibility you'll receive a letter from the IRS about a missing transaction.  If so, just respond back in writing with the same explanation you just gave.  But I doubt you'll hear from them.

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3 Replies
DDollar
Expert Alumni

In form 8949 one transaction wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " should I amend?

I would not amend for this, as long as you correctly reported the amounts and the correct gain or loss for that transaction.  It won't have any impact on you tax.  There's a remote possibility you'll receive a letter from the IRS about a missing transaction.  If so, just respond back in writing with the same explanation you just gave.  But I doubt you'll hear from them.

mohataza3
New Member

In form 8949 one transaction wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " should I amend?

Thank you for your answer, I also would like to add something... this transaction was a result of NQSOP sale on which the gain is already reported in W2. So that transaction show 0 gain/loss in schedule D
DDollar
Expert Alumni

In form 8949 one transaction wrongly reported under "(C) Short-term transactions not reported to you on Form 1099-B " should I amend?

You've got nothing to worry about, and there's no need to amend!  Thanks for using TurboTax!

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