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Level 3
April 15, 2022
Question

entering share sale with code X

  • April 15, 2022
  • 6 replies
  • 31 views

I am entering a share sale on the 8949 with the code X and keep getting error messages. This happens when I try to enter it on the worksheet also. How do I report it and not have it show as taxable income?

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6 replies

Level 10
April 15, 2022

Why would you think it is not taxable income?

acctjoAuthor
Level 3
April 15, 2022

I may be confused thus the question. code X says it qualifies for exclusion

Level 10
April 15, 2022

When I look up code X  for 1099-B this is what I see

Code X. Use this code to report a transaction if you cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown.

I don't see anything there about an exclusion, just that the issuer did not know the holding period of an uncovered security.