I need to report the proceeds of sales of shares from six different companies on my Form 8949 and Schedule D form, but my broker will not report these amounts because they were under $10.00; how can I report this information?
In 2017, I sold all of the shares I purchased through Acorns Online Investment Company. All these shares were purchased between 2015 and now. This sale involved fractions of stock I owned in seven different companies. On my 1099-b form for 2017, only one of the seven companies is listed and it was the company where the proceeds of the sale exceeded $20.00. The other six companies' proceeds were under $10.00 individually. How should I list these six other companies on my Form 8949 and Schedule D form? Acorns has not supplied me with the specific information I need. Requests by phone and email have been unsuccessful. They told me they are not required to report to me, or the IRS, when the sale proceeds per company are under $20.00. The information available to me through my online Acorns account reports the total proceeds of each sale, not the actual proceeds once they are adjusted for commissions and fees. This is the information I am required to report on a 1099-b. For the one company that's included on the 1099-B, there's a difference between the amount reported as "Proceeds" on the 1099-b and the amount I find in my online account for Acorns. The online account information has not been adjusted for commissions and fees so there is no way for me to calculate this amount myself. There is also no information in my online account for any of the six additional companies that indicates whether there is a market discount, or a wash sale loss disallowed. I need to supply this information on my Form 8949 and Schedule D. The total sale of all seven of the companies' shares was about $87.00, a minor amount.
On form 8949 there is a provision for reporting sales of assets not reported via a 1099B. In the short term section it is Option C. In the long term section it is Option F.
As for the the any trading costs, Acorn should be able to at least provide you with the general guidelines for these types of sales. If they were fractional there may not have been a 'disposition' fee. While you are being diligent in trying to be as accurate as possible, it may not be possible to be 100% accurate in a situation like this.
You may not be in a wash sale situation unless you sold the stock for a loss, then bought it back in less than 30 days (The definition of a wash sale from Investopedia is: The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so.
I hope this helps.