The type of asset is DIV STRGY PRTFO. I do not know the exact date acquired other than the broker said it was 14 months prior to the sale. The Date Acquired on the 1099B is N/A. Cost or other basis is blank.
After taking a break and looking at it again, I have a thought that might solve this riddle. This transaction is listed on the 1099B under the heading UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS. In parenthesis it says, Ordinary gains and losses are identified in the Additional Information column.
For example, the proceeds of the sale are $1000. If I multiply that by the Cost Basis Factor, .02, identified in the Additional Information, does this give me the ordinary gains of $20? If so, then I would enter the cost of the asset as $980.
Is there a rule that brokers do not need to report gains or losses if the amount doesn't exceed a certain threshold? Similar to a bank doesn't need to report interest less than $10 but the interest is still taxable.
