JamesG1
Expert Alumni

Retirement tax questions

I think you are saying that your broker has included a list of transactions that may need to be reported.

 

The transactions may be reported individually.  Or you may be able to group the transactions by the code reported on IRS form 8949.

 

Transaction reported on IRS form 1099-B showing basis that was reported to the IRS is called covered.  Short-term reports code A.  Long-term reports code D.

Transaction reported on IRS form 1099-B showing basis that was not reported to the IRS is called uncovered.  Short-term reports code B.  Long-term reports code E.

Transaction not reported to you on IRS form 1099-B is also not reported to the IRS.  Short-term reports code C.  Long-term reports code F.

 

In TurboTax Online, report the entries as follows:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Scroll down to Investments and Savings and click the down arrow to the right.
  • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
  • Click Add investments.
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