How to report worthless rights from a noncovered security? I get this error: Noncovered Security applies only to a transaction reported on Form 1099-B.

Forum|Forum|6 years ago
March 13, 2020
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This is under my 1099-B for Non-Reportable Actions. I had a stock that got delisted. I never actually sold, but I received rights offerings that then it expired worthless. Turbotax won't let me file if I check the Noncovered Security box, but it is a Noncovered Security, so I don't want to uncheck the box.

TurboTax Premier Online

Best answer by JulieS

The notation Non-Reportable Actions means the broker is not actually reporting the information on Form 1099-B, it is just being provided to you for your records.

That fact that the stock was a non-covered security is irrelevant, because is not reported as a covered or non-covered security on a 1099-B.

JulieSAnswer

Level 15

The notation Non-Reportable Actions means the broker is not actually reporting the information on Form 1099-B, it is just being provided to you for your records.

That fact that the stock was a non-covered security is irrelevant, because is not reported as a covered or non-covered security on a 1099-B.

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indeedjimmyAuthor

Level 2

Hey Julie,

Thank you for your answer! I guess what's confusing is that page just follows the 1099-B and is sandwiched between other forms. I deleted the forms since my cost basis was $0 anyway.