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Level 1
posted Apr 16, 2021 11:20:59 AM

1099-B Short Term Showing as long term

Hello,

 

My 1099-B has a sale made on 7/31/20 for stock sold on 9/30/19 and lists it as a Longer Term covered. I have other transactions for that stock as short term covered. I assume I need to get the 1099b corrected but would I just change this to a long term?

0 2 608
2 Replies
Level 15
Apr 16, 2021 12:12:00 PM

LT / ST is determined by your holding period.

Enter the Date  Acquired and TurboTax should put it in the right category.

 

You may be  misinterpreting what your 1099-B says.

 

If Import puts your trade in the wrong category you have to correct that manually.

Level 15
Apr 16, 2021 12:26:23 PM

"sale made on 7/31/20 for stock sold on 9/30/19". this is inconsistent. you have 2 sale dates and no purchase date.