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Short Term Capital Gains when Basis is not reported to IRS
After entering the missing Basis from my Schwab 1099B data, it gets high lighted on form 8949. Then when running SMART CHECK, the entry gets flagged with a message that if I E-file, then it could be rejected by the IRS. Should I just ignore this message , enter the correct data and E-file ? If I leave the Basis blank, then it shows the proceeds as a full short term gain.
Any suggestions?
‎April 8, 2025
11:34 AM