From the IRS site:
When selling a noncovered security and reporting it on a separate Form 1099-B, you may check box 5 and leave boxes 1b, 1e, 1f, 1g, and 2 blank.
It sounds like this entry is targeted towards the issuer of the IRS form 1099-B who is required to notify you of the transaction even if the issuer does not have all of the basic information of the transaction. For instance, the financial institution may have sold in investment for you that was purchased through a second financial institution. Your financial institution would not necessarily have access to the original purchase information.
You may have to refer to your personal records including sales tickets to locate the information that is needed to report the transaction. The sale would be reported under code B for a short-term transaction or code E for a long-term transaction on IRS form 8949 Sales and Other Dispositions of Capital Assets.
@EliseInAZ
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
