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ANITAK1
New Member

We had a Long term transaction that was not reported to IRS but it got reported on 2020 taxes

1955. was reported that shouldn't have been. Which I don't know how that happen cause I called and talk to someone for help and she thought she deleted that page and helped me do it over but I guess it was deleted
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2 Replies

We had a Long term transaction that was not reported to IRS but it got reported on 2020 taxes

if you had a long-term sale that was not reported to the IRS that does not mean it doesn't have to be reported for tax purposes.  however, to give you a conclusion we need more information about the transaction. especially why you think that just because it wasn't reported to the IRS you don't have to report it on your tax return. 

We had a Long term transaction that was not reported to IRS but it got reported on 2020 taxes

Was it on the 1099-B form ?   Was it considered NON COVERED where the basis and/or purchase date was not available ?    If so it does need to be reported  and the missing information provided. 

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