No, you certainly can't use the stock symbol for the "sales category". The stock symbol has absolutely nothing to do with the sales categories required by Form 8949.
If you look carefully you might find that the broker HAS reported sales categories; sometimes that information can be overlooked. But you certainly can figure out the sales categories yourself and the information to do so is almost certainly on the 1099-B.
The categories are:
- A - short term, basis reported to IRS
- B - short term, basis not reported to IRS
- C - short term, no 1099-B issued
- D - long term, basis reported to IRS
- E - long term, basis not reported to IRS
- F - long term, no 1099-B issued
If you've held a security for a year or less when you sold it, that's short term. If you held a security more than a year when you sold it, that's long term. The broker will tell you for each trade if it's reporting basis to the IRS or not.
Tom Young
