On Form 1099B can I just enter the cusip number in the description field?

Forum|Forum|7 years ago
June 4, 2019
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RachelW33

Alumni - Expert

Per the IRS instructions for Form 8949:

Your "description" should include the number of shares sold and the stock/mutual fund name. You can use the stock ticker symbols or abbreviations to describe the property as long as they are based on the descriptions of the property as shown on Form 1099-B or 1099-S (or substitute statement).

Based on these instructions, it should be okay to identify the item sold with the cusip number in addition to the number of shares sold.

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javier01

Level 2

There is not number of shares sold

MarilynG

Level 15

Hi:

My 1099B, some securities does not contains the stock SYMBOL , but it does include the CUSIP id.

I can lookup the history to find the Symbol but I am worry what is on the IRS computer.

thank you

Huy

@cordycep Don't worry about looking up the stock symbols to enter your 1099-B. You can use the CUSIP number, or something as simple as '10 shs AT&T stock' for your stock description.

The IRS gets a copy of your 1099-B, so they will see that your entry matches the document you received.

They are mostly concerned with whether you had a Gain or a Loss, and was it Short-Term or Long-Term.

Click this link for more info on Entering Stock Descriptions.

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