You will want to report it. The IRS will be looking at the gross proceeds which means you will want to show that you actually had a loss and not a gain. You can choose to enter summary totals if you like. Make sure to separate long term versus short term holding periods and summarize one entry for each, based on what you have.
Long term is a holding period of more than one year and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)
You must enter a date acquired, Various will work if you don't have one date).
- Search (upper right) > type 1099b > Click the Jump to... Link
- Continue to add or edit your sales
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