We have sold foreign stocks, both short and long term. I need to select a sales section title.
It's not Box A - basis reported to IRS (covered) -- it's a foreign brokerage which is not required to report to IRS
Both B and C are true.
Box B - basis not reported to IRS (noncovered) -- should we have reported it to IRS somehow when we bought it?
Box C - did not receive 1099-B form -- foreign brokerage does not issue 1099s
Should I select B or C?
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Yes, for tax reporting purposes, it counts as receiving a 1099.
Addendum: Since I don't get 1099s for any of our foreign investments, I do know how to report the interest, dividends, and sales "as if" I received a 1099. Not sure if that really counts as having received a 1099.
Yes, for tax reporting purposes, it counts as receiving a 1099.
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