Do I need to report a $2.19 capital loss when my brokerage statement says "Transactions in this section are not reported on Form 1099-B or to the IRS"

The realized loss was the result of a corporate action/spinoff for which I received cash in lieu of shares (I had no say in the transaction). I did not receive a 1099-B. If I have to report it, that will trigger an upgrade to the Free TT product I'm currently using (and cost me $89). Since I have an extremely straightforward return and am only getting a $50 refund, I'd prefer the free filing option if at all possible.

706

1 Best answer

Expert Alumni

Apr 10, 2023 5:30:41 PM

You don't have to report it. It won't have any impact on the tax you owe or your refund, and the IRS is not expecting it to be reported. Use the free file if you can, and ignore the $2 loss.

Expert Alumni

Apr 10, 2023 5:30:41 PM

You don't have to report it. It won't have any impact on the tax you owe or your refund, and the IRS is not expecting it to be reported. Use the free file if you can, and ignore the $2 loss.

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Do I need to report a $2.19 capital loss when my brokerage statement says "Transactions in this section are not reported on Form 1099-B or to the IRS"