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ElliotF
New Member

Cost basis

If some transactions say cost basis reported to IRS and some have not been reported how do I answer question of was cost basis reported to IRS in TT Business 

 

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2 Replies
BillM223
Expert Alumni

Cost basis

I don't understand the issue. Are you saying that you know that some transactions had the cost reported to the IRS and others didn't, but you don't know which ones were which.

 

Note that a transaction that is "covered" is a transaction where the cost or basis was reported to the IRS, otherwise, the transaction was "not covered".

 

Are you trying to aggregate transactions?

 

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Cost basis

transactions with basis reported to IRS are marked Box A or D

transactions with basis not reported to IRS are marked Box B or E.

if you have a broker consolidated 1099-B, the distinction is indicated for you.

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