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Received a 1099-B for unknown term sale (code x). Code X is not an option. How do I report?

 
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3 Replies

Received a 1099-B for unknown term sale (code x). Code X is not an option. How do I report?

X is not a valid option ... you must enter the cost basis and purchase date to produce a valid non covered code for the holding period.

Received a 1099-B for unknown term sale (code x). Code X is not an option. How do I report?

This is from an account that was inherited so I have no information.  There is no Date Acquired nor Cost or Other Basis information provided

Received a 1099-B for unknown term sale (code x). Code X is not an option. How do I report?

Date acquired is the date of death and the cost is the fair market value on that date ... so do a historical search for the stock price for that date for your answer .... your broker should have been able to tell you this.
<a rel="nofollow" target="_blank" href="http://bigcharts.marketwatch.com/symbollookup/symbollookup.asp">http://bigcharts.marketwatch.com/sym...>

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