Hi,
My wife inherited a portion of her mom's investments when her mom died in 2022. The broker sold various stocks/ETFs/funds and we received a consolidated report with a 1099-B section. (fyi, I'm aware of the advantaged cost basis reporting and long-term reporting associated with inherited stocks, and I think my broker's 1099-B accounted for that)
There is a section of the 1099-B with the title "Long Term Gains/Losses".
There is a header preceding the list of stocks which contains this information:
Long Term Gains/Losses - Report on Form 8949, Part II with Box D checked
Box 2: Type of Gain or Loss - Long Term
Box 5: Box Not Checked (Covered Security)
Box 6: Gross Proceeds
Box 12: Basis Reported to the IRS
Next we have various sales each with their own line of information. Some of these appear to be sales of US treasuries, but I'm not sure. Some of these treasury sales have a non-zero value in the "Accrued Market Discount (Box 1f)" column.
Here is an example of the data column values of one entry:
Description CUSIP (Box 1a)
US TREASURY NOTES
CPN: 1.5000% DUE: 01/31/2027
CUSIP: 912828Z78
Quantity Sold: 8
Accrued Market Discount (Box 1f): 14.25
I am entering each sale manually via the "Add another sale" button. I don't know what to put for "Type of Investment". The only choices I'm given by TT are:
Stock (Non-Employee)
Cryptocurrency
Mutual fund, Index fund, or ETF
Bond
Options
Sales Section: Long-term basis reported to IRS (covered)
How did you receive this investment: I inherited it
Description: 8 shares of US TREASURY NOTES CUSIP 912828Z78
Please help me figure out how to enter this 1099-B information into TurboTax
thx!
Wayne
