Xavier received the following Form 1099-B reporting the sale of 100 shares of stock. How should he report the sale of this property when he prepares his tax return?

 

 

A) Short-term capital loss of $1,660.

B)  Long-term capital loss of $1,660.

 C) Short-term capital gain of $1,660.

 D) Long-term capital gain of $1,660.

 

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CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 or foreign postal code, and telephone no. D I TRADE ONLINE INVESTMENTS 5631 LA HABRA PARKWAY, STE 13 YOUR CITY, YS XXXXX (XXX)548-5734 PAYER'S TIN 07-2011702 RECIPIENT'S name XAVIER BROWN Street address (including apt. no.) 218 ROSEMARY LANE Account number (see instructions) 1861354 City or town, state or province, country, and ZIP or foreign postal code YOUR CITY, YS XXXXX CUSIP number RECIPIENT'S TIN 14 State name YS 201-00-1178 Form 1099-B FATCA filing requirement 15 State identification no. 16 State tax withheld $ (Keep for your records) Form 1099-B 1a Description of property (Example: 100 sh. XYZ Co.) 100 SHARES ALX 1b Date acquired 02/01/2019 1d Proceeds $ 6,640.00 1f Accrued market discount $ 13 OMB No. 1545-0715 2021 Barter Exchange Transactions 1g Wash sale loss disallowed $ 2 Short-term gain or loss Long-term gain or loss Ordinary 3 if checked, proceeds from: Collectibles QOF 4 Federal income tax withheld 5 If checked, noncovered $ security 6 Reported to IRS: Gross proceeds Net proceeds 8 Profit or (loss) realized in 2021 on closed contracts $ 10 Unrealized profit or (loss) on open contracts-12/31/2021 1c Date sold or disposed 05/04/2021 www.irs.gov/Form10998 1e Cost or other basis $ 8,300.00 7 If checked, loss is not allowed based on amount in 1d 9 Unrealized profit or (joss) on open contracts-12/31/2020 $ 11 Aggregate profit or (loss) on contracts $ $ 12 If checked, basis reported 13 Bartering to IRS Proceeds From Broker and Copy B For Recipient This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 or foreign postal code, and telephone no. D I TRADE ONLINE INVESTMENTS 5631 LA HABRA PARKWAY, STE 13 YOUR CITY, YS XXXXX (XXX)548-5734 PAYER'S TIN 07-2011702 RECIPIENT'S name XAVIER BROWN Street address (including apt. no.) 218 ROSEMARY LANE Account number (see instructions) 1861354 City or town, state or province, country, and ZIP or foreign postal code YOUR CITY, YS XXXXX CUSIP number RECIPIENT'S TIN 14 State name YS 201-00-1178 Form 1099-B FATCA filing requirement 15 State identification no. 16 State tax withheld $ (Keep for your records) Form 1099-B 1a Description of property (Example: 100 sh. XYZ Co.) 100 SHARES ALX 1b Date acquired 02/01/2019 1d Proceeds $ 6,640.00 1f Accrued market discount $ 13 OMB No. 1545-0715 2021 Barter Exchange Transactions 1g Wash sale loss disallowed $ 2 Short-term gain or loss Long-term gain or loss Ordinary 3 if checked, proceeds from: Collectibles QOF 4 Federal income tax withheld 5 If checked, noncovered $ security 6 Reported to IRS: Gross proceeds Net proceeds 8 Profit or (loss) realized in 2021 on closed contracts $ 10 Unrealized profit or (loss) on open contracts-12/31/2021 1c Date sold or disposed 05/04/2021 www.irs.gov/Form10998 1e Cost or other basis $ 8,300.00 7 If checked, loss is not allowed based on amount in 1d 9 Unrealized profit or (joss) on open contracts-12/31/2020 $ 11 Aggregate profit or (loss) on contracts $ $ 12 If checked, basis reported 13 Bartering to IRS Proceeds From Broker and Copy B For Recipient This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 or foreign postal code, and telephone no. D I TRADE ONLINE INVESTMENTS 5631 LA HABRA PARKWAY, STE 13 YOUR CITY, YS XXXXX (XXX)548-5734 PAYER'S TIN 07-2011702 RECIPIENT'S name XAVIER BROWN Street address (including apt. no.) 218 ROSEMARY LANE Account number (see instructions) 1861354 City or town, state or province, country, and ZIP or foreign postal code YOUR CITY, YS XXXXX CUSIP number RECIPIENT'S TIN 14 State name YS 201-00-1178 Form 1099-B FATCA filing requirement 15 State identification no. 16 State tax withheld $ (Keep for your records) Form 1099-B 1a Description of property (Example: 100 sh. XYZ Co.) 100 SHARES ALX 1b Date acquired 02/01/2019 1d Proceeds $ 6,640.00 1f Accrued market discount $ 13 OMB No. 1545-0715 2021 Barter Exchange Transactions 1g Wash sale loss disallowed $ 2 Short-term gain or loss Long-term gain or loss Ordinary 3 if checked, proceeds from: Collectibles QOF 4 Federal income tax withheld 5 If checked, noncovered $ security 6 Reported to IRS: Gross proceeds Net proceeds 8 Profit or (loss) realized in 2021 on closed contracts $ 10 Unrealized profit or (loss) on open contracts-12/31/2021 1c Date sold or disposed 05/04/2021 www.irs.gov/Form10998 1e Cost or other basis $ 8,300.00 7 If checked, loss is not allowed based on amount in 1d 9 Unrealized profit or (joss) on open contracts-12/31/2020 $ 11 Aggregate profit or (loss) on contracts $ $ 12 If checked, basis reported 13 Bartering to IRS Proceeds From Broker and Copy B For Recipient This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. Department of the Treasury - Internal Revenue Service

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