1099-b sale category

[Petim1]

On Edward Jones statement, how can I tell what is the Sale Category?  The statement shows both total ST and total LT.  The ST row is all zeros.  The LT row has amounts.

[MargaretL · Accepted solution]

IF LT has amounts, it means the sale was long term... you also need to know if basis is listed on the form to determine the sales category. Please see below for details:

The sales category is determined by two factors:

1. Basis reported or not reported (form 1099-B may say covered/ noncovered), AND
2. Holding period (long term or short term)

For example, if you stock basis is reported to the IRS (it therefore shows on the form 1099-B), and the stock's holding period was longer than a year, you would select box D as your sales category - long term sales with cost basis reported to the IRS. You would repeat the process for each transaction. 

Some 1099-B forms will not mention boxes A,B, etc.  If that is your case, please look for what each box stands for and select the box based on the two factors mentioned above:

Box A - Short term covered -short terms  sales with cost basis reported to the IRS

Box B - Short term noncovered -  short terms sales with cost basis NOT reported to the IRS

Box C - Short term not reported -  short terms sales not reported to the IRS

Box D - Long term  covered - long term sales with cost basis reported to the IRS

Box E - Long term noncovered - long terms sales with cost basis NOT reported to the IRS

Box F - long term not reported - long terms sales not reported to the IRS

Box X - Holding period and cost basis NOT reported to the IRS.

[sherryappel]

My Tax statement has Box X and the software I am using has an X but it shows up as Box E on my return. What is wrong?