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joshuat-isaac
New Member

I have a1099-B and it says "longterm transactions for which basis are not reported to the IRS report on form 8949, part II with box E checked” I need to do a form 8949?

 
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CathiM
New Member

I have a1099-B and it says "longterm transactions for which basis are not reported to the IRS report on form 8949, part II with box E checked” I need to do a form 8949?

When you enter your 1099-B, TurboTax will automatically create a Form 8949 for you.  You just have to enter the information from your 1099-B, but since your broker is not reporting a basis, you will have to figure out your cost and enter it in. If you can't find the cost in your records from when you purchased it, make a good faith estimate.  

When you transfer portfolios to another brokerage they sometimes don't record the basis.

I attached a screen shot of the Form 8949 Part II with Box E highlighted so you can see what page it should end up on. 

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