My 1099-B form says this:
Sales section title
This contains keywords like: short term, long-term, reported, not reported, covered, and not covered.Covered and reported mean the same thing.
Example: Short-term transactions for which basis is reported to IRS.
TurboTax is asking for me to make a selection under the "Sales section title".
Next to "Sales Section" is a drop-down box with six options:
- Short-term basis reported to IRS (covered)
- Short-term basis not reported to IRS (noncovered)
- Short-term did not receive 1099-B form
- Long-term basis reported to IRS (covered)
- Long-term basis not reported to IRS (noncovered)
- Long-term did not receive 1099-B form
I have absolutely no idea what to select. How should I proceed?
Thank you for anyone who can provide help on this.
