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Get your taxes done using TurboTax
Yes, you do have to report them. Fidelity has reported the sales to the IRS, just not the basis.
I don't know why the non-covered transactions are not imported into your tax return, but it is a simple matter to add them manually.
- Select Federal from the left side menu.
- Select Wages and Income toward the top left.
- Scroll down/ expand the list and look for Investment Income.
- Click Start to the right of Stocks, Bonds, Mutual Funds, Other.
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you land on Your investment sales summary, select Add more sales
- On the Let's import your tax info screen, select I'll type it myself
- Continue and select Sales section totals when prompted to choose how to enter your sales
- You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue
- You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
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March 7, 2022
4:43 PM