enter a summary for 1099-B and Box A Short-Term Gain/Loss

[ben2021]

I am entering a summary for each category sale for 1099B.  What should I do with Box A Short-Term Realized Gain and Box A Short-Term Realized Loss?  For example, the gain is 100 and the loss is 200.  Should I treat them as other adjustment and check "I need to enter amount form box 1f, 1g, or other adjustment" and input -100 as the total adjustment gain, if so, what is the code?

Thank you!

[JohnB5677 · Accepted solution]

You should not have to combine anything.  You should only have to post the Sale Categories.  They are:

Box A - Short-term Covered - Short-terms sales with cost basis reported to the IRS

Box B - Short-term Noncovered -  Short-term sales with cost basis NOT reported to the IRS

Box C - Short-term Not reported -  Short-term sales not reported to the IRS

Box D - Long-term  Covered - Long-term sales with cost basis reported to the IRS

Box E - Long-term Noncovered - Long-term sales with cost basis NOT reported to the IRS

Box F - Long-term Not reported - Long-term sales not reported to the IRS

Box X - Holding period and cost basis NOT reported to the IRS

If you have items in Box X you will have to make an adjustment into a different category.

Transactions in this Box either do not have a Cost Basis or the date is not present.

If the cost basis is missing you may be able to find it through 

Historical Stock Quote Prices - MarketWatch

[MOMURPH]

I am still not clear on where to report Box A as there is no option to report even though I entered the amounts in 1f and it did not calcutate the gain

[DavidD66]

There is no Box A on a Form 1099-B.  Are you referring to items reported on Form 1099-B with "Short Term Transactions for Covered Tax Lots " that says to report on Form 8949, Part I with Box A checked"?  If yes, and you want to enter category totals instead of each transaction, follow these steps:

• In the income section, Select "Investments and Savings...." 
• On the page "Did you have investment income in 2024?"  Answer Yes
• On the page "Let's Import your tax info" click on "Enter a different way"
• Select "Stocks, Bonds, Mutual Funds" on the page with "OK let's start with one investment type"
• When asked "Which bank or brokerage is on our 1099-B?" enter the name of your or broker or mutual fund company, leave the other fields blank. Click Continue
• Answer the next three questions
• Answer Yes to "Did you buy every investment listed...." (unless you inherited or were gifted the funds)
• Select "Sales Section Totals"
• Locate your sales section totals on your 1099-B
• Enter your Investment Sales Section Totals and repeat till you have entered for each category.

After entering all your sales section totals,  Look for "Now we'll help you upload your 1099-B since the IRS requires a copy" and follow the instructions,  or you can mail a paper copy of your 1099-B to the IRS.  If you want to mail, click on "How do I mail my statement".

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

•  - A Description
•  - Date Acquired
•  - Date Sold
•  - Sales Price
•  - Cost Basis
•  - Gain or loss for each sale
•  - A based on how the sale was reported to you and the IRS

 In some uncommon cases, there will be an adjustment code and adjustment amount.

 NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

 Here's how to mail your statements:

 If you are e-filing your tax return, then mail your statements along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254