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Level 1

Form 1099-B income single form shows both short-term and long-term holdings. How to report that?

 
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AJ
Level 11

Form 1099-B income single form shows both short-term and long-term holdings. How to report that?

Go to Income/Investment Income and click the Update button for "Stocks, Mutual Funds, Bonds, Other".  Then click "Yes" that you sold investments. Then click "Yes" that you have a 1099B. I'm assuming that you will type entry yourself, so click "I'll type it myself" and "Continue".  Enter brokerage name and "Continue".  You can enter each sale one at a time or enter a summary for each category.  I'll assume that you will use the summary for each category listed on your 1099-B.  For each category (short covered; short uncovered; long covered and long uncovered): enter the proceeds and your cost basis and select the sale category for your 1099-B holdings for each category,  Your short-term sales will get category A or B depending on whether your brokerage reported the basis (covered) or did not report the basis (non-covered).  Click "Done" when the first entry is complete and follow the prompts to click "Yes" to add another sale category and repeat the process.  Your long-term holdings will get category D or E depending on whether your brokerage reported the basis (covered) or did not report the basis (non-covered).  Be careful to match the 1099-B data for each of the possible categories.