I have a 1099-B with many transactions so I opted for inputting the section totals, but the last section is "Unknown Term Gains or Losses on Gross Proceeds
Report on Form 8949, Code X** − Either Part I or Part II with Box B or Box E checked." I have the history of the stock so I can fill in the missing info, but some of it would be long term and some would be short term. There is no drop down for unknown term when entering the section totals so do I adjust the long and short term sections manually to include these stocks or add a second section for each and check "X" as an adjustment code or do I enter it as a separate investment/1099-B and manually enter those transactions? What is the best way to deal with this?
Thanks!
if some is short term and some is long term you have to separate out those amounts and
enter with Box B checked and Box E checked.
@fanfare So I would have one entry for the long term which has a total listed on the 1099, then a second entry for long term which just includes the portion of the "unknown term?" Same with short term? That's what I was thinking was the cleanest, but I haven't run into this issue previously and I wasn't sure if you should have 2 of the same sections listed.