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New Member

Sales catagory on 1099-B

I'm being asked for a Sales Category from my 1099-B. No Sales Category is listed. Please advise.
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New Member

Sales catagory on 1099-B

The information requested should appear in boxes 2 and 3 of your Form 1099-B or as a heading above the transaction on your consolidated statement.  The program is asking for two pieces of information:  

  • Is this long term or short term gain/loss?
  • Was your basis in the security reported to the IRS?

If you cannot locate this information on your tax form, please contact your brokerage firm.