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j9hamil
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Trying to figure out a question about sale of stock on 1099B. One line has an X at the beginning and the other a D. One was reported as long term to IRS & the otherisnt

The X line shows a total gain from the proceeds, so is that right?
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Trying to figure out a question about sale of stock on 1099B. One line has an X at the beginning and the other a D. One was reported as long term to IRS & the otherisnt

The line ("trade" I assume) with the X almost certainly means that the broker is not reporting the holding period, probably not the basis either.  This information needs to come from your own records.

The line with a D probably is the sales category, namely "long term" and "basis reported" to IRS.

Tom Young

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2 Replies

Trying to figure out a question about sale of stock on 1099B. One line has an X at the beginning and the other a D. One was reported as long term to IRS & the otherisnt

The line ("trade" I assume) with the X almost certainly means that the broker is not reporting the holding period, probably not the basis either.  This information needs to come from your own records.

The line with a D probably is the sales category, namely "long term" and "basis reported" to IRS.

Tom Young

j9hamil
New Member

Trying to figure out a question about sale of stock on 1099B. One line has an X at the beginning and the other a D. One was reported as long term to IRS & the otherisnt

Thanks Tom, that makes sense.  How would I go about getting that cost basis information and type of gain or loss?  Also, this is checked as a "non-covered" security...does that make a difference in what I'm asking or what does that mean?
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