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New Member
posted Feb 5, 2025 9:39:38 AM

I have short term capital gain. Should select "Box2 of my 1099-B has "ordinary checked" ?

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2 Replies
Expert Alumni
Feb 5, 2025 9:49:06 AM

The box 2 would normally say short or long-term, but the ordinary box may be checked as well if a portion of the gain may result in ordinary income. Since short-term gains are typically taxed as ordinary income anyways, it is not likely the box being checked will affect your tax. You can check with the company that issued the form or the paperwork that accompanied it if you need further clarification.  You can also read the instructions to Form 1099-B for a more detailed explanation.

New Member
Feb 8, 2025 3:46:08 AM

Thank you for the kind explanation for resolving this issue. My tax return was filed and accepted by Fed and State.