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Level 2
posted Jun 27, 2020 11:45:38 AM

Are tax Form 1099-B noncovered security proceeds (box 1b), cost basis (box 1e), and gain/loss reported to the IRS?

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2 Replies
Level 15
Jun 27, 2020 11:53:29 AM

"noncovered" means that the cost basis (box 1e), and gain/loss  is NOT reported to the IRS.  The security proceeds (box 1b) is reported to the IRS.

Level 2
Jun 27, 2020 3:24:45 PM

Thank you for your quick and detailed answer.