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Tcrhodes15
Returning Member

Capital Gains - Undetermined term

Hello and help please!   I received my consolidated 1099 from TD Ameritrade.  In the Form 8949 "type" section there are proceeds titled " Undetermined" ( ie neither Long term or short)  There is no associated information about Cost Basis etc and strangely, the Proceeds do not carry across to the "Net Gain or Loss" column.   

 

I checked the transaction details section and while there is a date for each dollar amount in proceeds, there is no further information related to date Acquired, Cost Basis or the individual "Gain or Loss" 

 

Most transactions are related to the Grayscale Bitcoin Trust  although there is one line entry for SPDR Gold Trust Gold SHS ETF

 

Not sure how to record the proceeds in my Turbo Tax program.  

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2 Replies

Capital Gains - Undetermined term

this is a guess. but if the amounts are small it likely relates to those funds selling assets to pay expenses.   the easiest thing to do is to report as short-term with no cost. 

 

FangxiaL
Expert Alumni

Capital Gains - Undetermined term

I would agree with @Mike9241 if the dollar amount is not substantial and you could not find the missing information. Short-term and zero-cost basis is the most advantageous for IRS, so you won't receive any notice from the IRS, for sure. 

 

@Tcrhodes15

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