I have the same issue with GLD, where there are 12 individually listed sales under UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS on the broker’s 1099-B. In this section, each sale entry shows a quantity of 0 and non-zero proceeds. In addition, these same 12 entries are listed under “Fees and Expenses” at the end of the consolidated 1099 as negative values of type “Gross proceeds investment expense”.
Since this information was auto-imported into TurboTax, the SmartCheck is now requesting a review of these items. But the review is very vague. Each item comes up as “Form 1099-B worksheet (…) - Capital Asset Sales Wksht (1): Cost or Adjusted basis must be entered.” There is no way to know to which specific entry the error is referring. So, questions:
- If these are considered sales, how do we update each specific one?
- If these are fees, where do we enter them?
Thanks in advance for any insights!
