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Level 1
June 1, 2019
Solved

Noncovered Security

  • June 1, 2019
  • 1 reply
  • 7 views
When TurboTax reviews my taxes it keeps coming up with this message:

Form 1099-B Worksheet (TD AMERITRADE CLEARING INC): Noncovered Security-1 applies only to a transaction reported on Form 1099-B. Do not enter for CAMBRIDGE CAPITAL HOLDINGS INC COM.

I bought this security when there wasn't a rule where brokers had to report buys to the IRS.

Is it okay that I keep this sell on worksheet 1099-B.  If not, were do I enter this data?

Thanks
Best answer by TomYoung

See if this FAQ supplies the answer:

https://ttlc.intuit.com/questions/3172544-form-1099-b-worksheet-holding-period-applies-only-to-a-tra...

Tom Young


1 reply

TomYoungAlumni - ChampAnswer
Alumni - Champ
June 1, 2019
Level 2
May 16, 2020

@TomYoung  @bkevin1 The link to the FAQ has now moved and I can't find it. Do you know where it is or can you explain the answer here? Thank you!

fanfare
Level 15
May 16, 2020

make sure your non-covered security is in Sales Category Box E.

If you do not have a 1099-B, use Category Box F