Its for GBTC (Bitcoin Trust). Small monthly expenses show up under a category on my 1099 as:
UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS [Ordinary gains or losses are identified in the Additional information column] (Line 5)
Report on Form 8949, Part I with Box B checked or Part II with Box E checked. Basis is NOT provided to the IRS. (Line 12)
“Date acquired,” “Cost or other basis,” "Accrued market discount," "Wash sale loss disallowed" and “Gain or loss (-)” are NOT reported to the IRS.
Turbo Tax sends me to a page with:
Sales section title
This contains keywords like: short term, long-term, reported, not reported, covered, and not covered.Covered and reported mean the same thing.
Example: Short-term transactions for which basis is reported to IRS.
And then asks for sales info etc... Even though this is not a sale.
