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Level 2
posted Mar 11, 2025 7:58:36 AM

Cash In Lieu Sales Not Reported in 1099-B - What type of term type to use (uncovered, not recd, unknown)

When entering those CIL transactions into the 1099-B what Sale Section should they be placed under? 

Below are the options that could possibly apply:

  1. Long-term basis not reported to IRS (uncovered)
  2. Long-term did not receive 1099-B form
  3. Unknown term not reported to IRS

These CIL transactions were on my Schwab 1099 tax form in the supplemental section not reported to IRS. 

Thank you very much! 

0 2 1039
1 Best answer
Expert Alumni
Mar 13, 2025 8:04:06 AM

When reporting your cash-in-lieu on IRS form 8949, report box F.

 

IRS Form 8949 Instructions, page 3, states:

 

Box F

 

Report on a Part II with box F checked all long-term transactions for which you cannot check box D or E because you did not receive a Form 1099-B (or substitute statement).

2 Replies
Expert Alumni
Mar 13, 2025 8:04:06 AM

When reporting your cash-in-lieu on IRS form 8949, report box F.

 

IRS Form 8949 Instructions, page 3, states:

 

Box F

 

Report on a Part II with box F checked all long-term transactions for which you cannot check box D or E because you did not receive a Form 1099-B (or substitute statement).

Level 2
Mar 14, 2025 7:19:07 PM

Hi James,

 

Thank you very much.. I really appreciate it!