Hello, I’m new with the form 1099-B and I just wondering if this is suppose to be the actual Box 12 and since mine says, “BASIS NOT REPORTED TO THE IRS” if that’s what it actually means? Because I’ve been trying to figure out how to know wether my basis has been or hasn’t been reported to the IRS
If box 12 is checked it means the basis was not reported to the IRS. I’m not sure what your confusion is.
It means just what it says, that the basis information for that investment(s), even if available, was not reported to the IRS.
My confusion is finding the location of box 12 on my robinhood 1099-B to see wether it has a check or not
Non covered stock (basis not reported) would have code B or E.
Oh okay, because turbo tax made me check the basis one of my investments to see if it was reported or not to the IRS, which I do see that theirs a basis, but I couldn’t tell where exactly in my 1099-B it was letting me know that if it was or wasn’t reported. All I saw was that text in the picture I sent and I wanted to make sure that is the spot where it tells me, which in my case how you said, it hasnt been reported to the IRS correct? Just for confirmation.
Best I could find was the text “REPORT ON FORM 8949, PART 1 WITH BOX B CHECKED” is that it?