Stock sale Do I need to report stock which is marked with X? If so how do I report it? Do I really have to figure out each individual stock sale?

[RichardG · Accepted solution]

The X means your broker has no record of how long you owned the stock, or at least has failed to report that information on your Form 1099-B.  The exact date isn't so important as knowing whether you have owned the stock for over one year (that's long term gain) or a year or less (that's short term gain).  You'll want to separate your long term gains/losses from short term gain/loss for reporting to the IRS.

If the forms shows that your basis for all the stock transactions has been reported to the IRS, you can enter a summary of your total short term gain/loss and a summary of your total long term gain/loss instead of reporting each individual stock sale.   Otherwise you can:

•  Report each transaction by either importing or entering the information into TurboTax; or
• Enter a summary as described above then mail a copy of your brokerage statement or other document that shows all the details to the IRS.

Please follow this link for more information.  https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Forms/Guide-to-Schedule-D--Capital-Gains-and-...