Hello Kris,
Thank you for your message. I edited my question above so I hope you can understand my question better. The question is about the form 1099-B I received from my broker, where one of the sales I did is for someone else. So I served as a nominee for the sale. With IRS, I need to mark that sale with "N" for nominee when I file my tax return, so any gain/loss for the sale will be adjusted to zero in my return.
Per IRS, "Report the transaction on Form 8949 as you would if you were the actual owner, but also enter any resulting gain as a negative adjustment (in parentheses) in column (g) or any resulting loss as a positive adjustment in column (g). As a result of this adjustment, the amount in column (h) should be zero. However, if you received capital gain distributions as a nominee, report them instead, as described under Capital Gain Distributions in the Instructions for Schedule D (Form 1040)."
I will file a 1099-B to someone for whom I served as nominee. I will do it soon after I can mark the sale as "N", otherwise we are paying double taxes on a single sale event.
