I received 2 1099-B forms for the same account - o...
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Level 1

I received 2 1099-B forms for the same account - one was delivered in January 2020, the second in March 2020. Which should I use?

The first one (January) has an "A" in the 8949 box, the second (March) has an "X".  The amounts on both forms are the same - first one has a cost basis listed and the second one just has the net proceeds.
3 Replies
Expert Alumni

I received 2 1099-B forms for the same account - one was delivered in January 2020, the second in March 2020. Which should I use?

Did the issuer of your 1099-B indicate that the second 1099-B was a "Corrected" 1099-B?  You may need to contact the issuer of your 1099-B to get clarification on why you received to 1099-B's for the same transaction.  

 

Code A indicates a short-term transaction for which the cost or other basis is being reported to the IRS. This code to report a transaction that the recipient will report on Schedule D (Form 1040 or 1040-SR), line 1a, or on Form 8949 with box A checked with totals being carried to Schedule D (Form 1040 or 1040-SR), line 1b.

 

Code X is used to report a transaction if  they cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown. 

 

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Level 1

I received 2 1099-B forms for the same account - one was delivered in January 2020, the second in March 2020. Which should I use?

The "Corrected" box is not checked - I will call the issuer and ask them why I received two forms.  Thanks for answering the question.

Level 15

I received 2 1099-B forms for the same account - one was delivered in January 2020, the second in March 2020. Which should I use?

if you have two 1099-B, neither marked ( C ), you have two transactions as far as IRS is concerned.
That's not good.

 

If the sum of proceeds matches what you actually received, Never Mind.

You sold two lots.

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