My Clients tax return was rejected because he had a 1099B with a code Y IN Box g. the IRS said I need to fill out form 8997 as well as form 8949. I am clueless as to what lines and codes to use., also how do I show losses on the deferred stock when it was sold?
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Assuming you are talking about Box 1g on the Form 1099-B, entries in that box are a number reprting wash sale adjustments to cost basis. -
No, he's referring to code Y on Form 8949 column g. There is no "Box g" on 1099-B. But I bet Box 3 "QOF" is checked.
The 8949 instructions address this reporting. If OP can't get what they need from the instructions, they're probably going to have to seek out an expert (maybe one on this forum?) or find some recent Continuing Education materials regarding QOF.Last edited by Rapid Robert; 03-10-2023, 08:29 PM."You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe HowardComment
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