elyz_97
Returning Member

Are non-covered securities on my 1099-B taxable?

I didn't personally sell any shares of my stock but my company has during a merger.

 

In the 1099-B provided by the Brokerage Firm, it shows that the sale had a rather large amount in "Cost or Other Basis" (long-term non-covered security) while I actually did not lose that money because I gained relatively the same amount (with some cash) as shares in the new stock.

Do I still have to report that 'sale' transaction in my Schedule D/8949? Will the IRS think that's a loss?

Thanks!