1099-B Non-Covered - Yet details provided

[drs1414]

Sold 100 shares of a stock during 2021.  Printed off a 1099-B and part of it is marked as covered and part non-covered.  I understand that non-covered means that it wasn't reported to the IRS and I must report it.  An additional piece of paper was printed w/ the 1099-B that listed each transaction w/ the details.  There was a covered section and a non-covered section that lists the cost basis, etc, etc.  I assume I can use the summed total from the non-covered section to fill out my taxes?  For some reason, I was expecting to have to go searching for the info to use to fill out my taxes for the non-covered portion.  All dates for the non-covered section were Jan - March 2021 so not really sure why it would be "non-covered".  All the "covered" section seems to be long term whereas "non-covered" short term.  So, just wanting to clarify that I can use the summed up info on this extra page that printed out with my 1099-B to enter for my non-covered section.  The summed #'s do match what's on the 1099-B itself.

[fanfare]

@drs1414 

IRS requires details of every SELL transaction  to be listed on a Form 8949,
or on your other forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.

Particularly, that includes Wash Sales, since those are adjusted transactions.

The only exception is:

category Box A or Box D sales without adjustments on a 1099-B with basis reported to IRS do not require Form 8949.

If you choose to use the exception, report the totals for those SELL transactions on Schedule D Line 1a or Line 8a.

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For details supplied by your broker, if you are using TurboTax Online, you can summarize each category group and attach the broker's 1099-B statement in PDF format when you e-File. Otherwise you would have to print and mail it in, OR, include it with your mailed at the Post Office Form 1040.

if you enter all details yourself onto your tax return, no mailing is necessary.

[fanfare]

@drs1414 

In the case of uncovered transactions, where the broker doesn't know the basis, you either edit the imported data or type in all the details yourself. You have to know your basis from your own records.

[drs1414]

The additional sheet that printed out w/ the 1099-B has all the details of all sales both covered and non-covered.  This extra sheet lists each transaction and all sums up the numbers for a "long term" section and a "non-covered" section.  Nothing was sold at a loss.  Though marked non-covered on the 1099-B, all details and sums seem to be on this extra sheet for the non-covered section.  My main question is, can I use these values from this extra sheet for the non-covered section to fill out my taxes?  Also, just out of curiousity, why would my brokerage/bank not report this to the IRS since clearly they have all the details since they were printed on this sheet?

[Critter-3]

That is a question to ask your broker. 

[fanfare]

@drs1414 

The proceeds are reported to the IRS but the basis is not.

Reason: broker was not required to know  the basis for those shares.

that is what uncovered means.

If the basis is correct, use it. Otherwise change the reported basis to the correct basis on your tax return.