Hello turboTax,
Last year around November I transferred all of my treasury bonds from treasuryDirect ( gov website ) to my own investment brokerage account, these bonds were purchased from treasuryDirect back to 2022.
I sold a portion of end around the end of last year, my brokerage account send me the 1099-consolidated-forms and on the page where it says REALIZED GAIN OR (LOSS) it listed the sales of bonds as Short term realized gain which I believe this is a mistake made by my broker, because all of these bonds has been held by me for more than 2 years before I redeem them, it should not be short-term gain.
And the 2nd thing is it has a writing
This section is for noncovered securities and corresponds to transactions reported on your 1099-B as " c ost basis is missing and not reported to the IRS. " Report on Form 8949, in either Part I
with Box B checked or Part II with Box E checked, as appropriate"
I have never needed to file form 8949 before, do I need to this ? if so, how do I do it in turboTax ?
On turbo tax, after importing this 1099-consolidated form, it shows that the entire sales of bonds are gains with $0 as cost, which is wrong of course.
I clicked on the section and want to correct the cost basis, but it only leads to more confusion:
I am not sure which choice I should be selecting for the `sales section title` , I am guessing that "Long term basis not reported to IRS" came as the closest one but I am not entirely sure about it.
Can someone please help taking a look at my issue ?
Thank you !
