Level 5

posted Mar 8, 2020 6:43:25 PM

What does code EL mean 8949 column f?

Just wondering what EL stands for.

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1 Best answer

Expert Alumni

Mar 8, 2020 7:18:30 PM

They are two separate codes E & L.

Code E: You received a Form 1099-B or 1099-S (or substitute statement) for a transaction and there are selling expenses or option premiums that aren't reflected on the form or statement by an adjustment to either the proceeds or basis shown
Code L: You have a nondeductible loss other than a loss indicated by code W. Code W is for a Wash Sale.

1 Replies

Expert Alumni

Mar 8, 2020 7:18:30 PM

They are two separate codes E & L.

Code E: You received a Form 1099-B or 1099-S (or substitute statement) for a transaction and there are selling expenses or option premiums that aren't reflected on the form or statement by an adjustment to either the proceeds or basis shown
Code L: You have a nondeductible loss other than a loss indicated by code W. Code W is for a Wash Sale.