cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

ON FORM 1099 B MY SALES CATEGORY WAS LONG TERM REPORTED TO THE IRS, BUT YOU DO NOT GIVE THAT OPTION. WHAT SHOULD I USE?

 
1 Reply
AJ
Level 11

ON FORM 1099 B MY SALES CATEGORY WAS LONG TERM REPORTED TO THE IRS, BUT YOU DO NOT GIVE THAT OPTION. WHAT SHOULD I USE?

The term "reported to the IRS", in this context, is equivalent to the term "Covered"--box A (short term) or box D (long term).  "Not reported to IRS" would be equivalent to "Uncovered"--box B (short term) or box E (long term).  Note that all 1099-Bs are normally reported to the IRS.  So the choice, such at Box F, would be used for transactions, such as a house sale, where you don't have any 1099-B.