Thanks Todd for your replies, really appreciated it.
I just called TD Ameritrade and their TAX team says the negative value is being reported just as last year when appropriate. They also provided me with the 2021 1099B instruction that says how to represent an negative proceed (form 1099B instruction):
“Box 1d. Proceeds Enter the gross cash proceeds from all dispositions (including short sales) of securities, commodities, options, securities futures contracts, or forward contracts. Show a loss, such as one from a closing transaction on a written option or forward contract, as a negative amount by enclosing it in parentheses”
According to TD Ameritrade, they have not been advised by IRS to not report negative proceed values on 1099B for 2020.
Also, searching around this forum, it looks like last year TTX had the same issue with the negative proceed but eventually got fixed:
https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/my-1099b-has-a-negati...
It would be great if you have specific docs from IRS regarding “negative proceeds are not accepted and will be rejected” so that I can forward to TD Ameritrade.
Thanks a million, we’re just caught in the middle of this.
Appreciate this !
Kim
