Noncovered Security

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

1708

1 Best answer

Level 13

May 31, 2019 11:02:22 PM

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

Level 13

May 31, 2019 11:02:22 PM

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

Level 2

May 16, 2020 8:20:39 AM

@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!

Level 15

May 16, 2020 8:33:50 AM

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

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

Level 13

May 16, 2020 12:56:50 PM

@LauraNM813

I don't remember exactly but I think that this

https://www.form8949.com/tto-bug-20190204.html

probably is accurate.

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Noncovered Security