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Get your taxes done using TurboTax
These are security purchases made prior to the effective dates listed (e.g., January 1, 2011 for equities). If a noncovered transaction is reported on 1099-B, the sale is classified as short-term (Box B) or long-term (Box E) on Form 8949.
The only distinction between covered and non-covered transactions is whether the brokerage firm is required to provide the taxpayer with the basis and gain or loss information. Sales of noncovered securities are entered the same way that covered securities are entered. But you will need to determine the missing information from your own records. If you know when you purchased the security, you can look up the historical cost basis at:
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March 14, 2023
12:56 PM