All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎01-25-2014

1099-B assistance...

Greetings, I sold some stock in 2013, and my broker sent my 1099-B.  The 1099-B has 3 lines, one line indicates long term, one line indicates short term, and one line doesn't indicate either.  How can I list this on my taxes?  The drop down boxes don't offer an option for both.  Also, the line which indicates neither shows more shares vs the other two.  The sum total of shares sold from all these lines indicates the number of shares I actually sold.  Any assistance would be appreciated.

 

 

Associate (Neighbor)
Posts: 473
Registered: ‎03-17-2013

Re: 1099-B assistance...

You'll be entering the acquisition or purchase date for these, as well as the sale date.  If you have an explicit purchase date, the program will determine whether it's short term or long term.

 

If you don't have a specific acquisition date, you'll indicate VARIOUS as the acquisition date, and then need to answer the question about whether they're long or short term.  Thus you'll enter the first two separately.

 

As for the line that doesn't indicate either, that usually means the broker doesn't know the acquisition date, often because the share were transferred from a different broker.  It's up to you to determine the acquisition date from your records.