With the IRS reporting requirements surrounding securities, brokers are generally required to report certain information to you about your stocks. However, when the stocks have been transferred to your current broker from a previous broker, the current broker can treat the stocks as non-covered securities. When this is the case, your current broker may not have the same reporting requirements (i.e. providing your basis amount).

If the stock information reported on Form 1099-B Proceeds From Broker and Barter Exchange Transactions is for stocks which did not originate with your current broker, Box 5 Check if nonrecovered security will be checked.

If you have received a Form 1099-B with Box 5 checked, do the following when entering the form into the TaxAct program (if you need help accessing Form 1099-B in the TaxAct program, go to our Form 1099-B - Entering Capital Gains and Losses in Program FAQ):

1. From within your Form 1099-B, continue with the interview process until you reach the screen titled Investment Sales - Category.
2. Click the Form 8949 category drop-down, and click "B-Short-term transaction in which basis was NOT reported to the IRS" or "E-Long-term transaction in which basis was NOT reported to the IRS"

Related Links

• IRS Cost Basis Reporting FAQs

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.