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2008flhx
New Member

How do I enter a Box 5 Non Covered Securities Code X (unknown Hold Period) ?

 
1 Best answer

Accepted Solutions
pattif12
Employee Tax Expert

How do I enter a Box 5 Non Covered Securities Code X (unknown Hold Period) ?

If the Cost Basis or Holding Period (long or short term) is unknown by your broker, your 1099-B shows a Code X to indicate that. You will need to enter the Purchase Date. If you don't have an exact date, you will need to estimate this to the best of your abilities

 

If you can determine the Purchase Date from Transaction Statements you have received, you can enter it.  You can also enter 'Various' if that applies, but the entry can't be blank. 

 

If this was inherited, the Purchase Date would be Date of Death. 

 

You can also choose 'Short Term' or 'Long Term' for Box 2 if this is known to you.  If not, the sale is automatically considered 'Short Term'.

 

 

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3 Replies
JamesG1
Employee Tax Expert

How do I enter a Box 5 Non Covered Securities Code X (unknown Hold Period) ?

At the screen Now we'll walk you through entering the info on your 1099-B, click on the drop down box titled What is the sales category?

 

Box X Unknown holding period is an option.

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mesaili
New Member

How do I enter a Box 5 Non Covered Securities Code X (unknown Hold Period) ?

Code X is not listed in TT Premier, Only code A-F is available>

pattif12
Employee Tax Expert

How do I enter a Box 5 Non Covered Securities Code X (unknown Hold Period) ?

If the Cost Basis or Holding Period (long or short term) is unknown by your broker, your 1099-B shows a Code X to indicate that. You will need to enter the Purchase Date. If you don't have an exact date, you will need to estimate this to the best of your abilities

 

If you can determine the Purchase Date from Transaction Statements you have received, you can enter it.  You can also enter 'Various' if that applies, but the entry can't be blank. 

 

If this was inherited, the Purchase Date would be Date of Death. 

 

You can also choose 'Short Term' or 'Long Term' for Box 2 if this is known to you.  If not, the sale is automatically considered 'Short Term'.

 

 

View solution in original post

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