Question

On my 1099-B from my Broker, why do I have an item for Noncovered Securities with Undetermined Holding Period for an ETF I bought $300 worth in 2024, but never sold any?

Forum|Forum|1 year ago
February 20, 2025
1 reply
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In March of 2024, I bought $200 worth and $80 worth of a BitCoin ETF EZBC through my broker. I've never sold it. Yet my 1099-B Has an entry for the ETF under Noncovered Securities with Undetermined Holding period. Proceeds: September 11, 2024 - $.04. October 11, 2024 - $.04. Quantity 0.00. There is no cost-basis information

T

ThomasM125

It is possible it became worthless in which case you no longer own it, so it is reported as a sale. If so, you can adjust the cost basis to what you paid for it. You will see an option for that when you enter the investment sale information in TurboTax:

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M

mrnedburnsAuthor

Fortunately, that's not the case. It's actually up about 40% from when I bought it. Ironically, at the time of this $.08 'sale', it was down a few percent. I'm baffled. It says I sold quantity of 0, with proceeds of $0.04, twice. Cost basis is blank. I did some math to see how many 'shares' $0.04 would have been on the dates in question, and then assumed the cost of those shares based on my original purchase date. It was a sliver, which makes me think the quantity of 0 is just from rounding?

It ended up being $0.09. In the absence any better idea, I think I'll enter short term non-covered, cost basis of $.09 and proceeds of $.08. Sound crazy? I really don't want to be audited over 8 cents :(.