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1099-B REDEMPTION ORDINARY GAIN

lferonti
Level 3

My client has a 1099-B with a redemption of a stock where it is showing an Ordinary Gain.  Where and how do I report this so that it is not treated as a capital gain?  I've gone over all the worksheets and forms but I can't seem to figure out how to get this treated as an ordinary gain.  Thanks.

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3 Comments 3
jofijohnjoseph
Level 7
Level 7

Is this a short term capital gain?  Then it is taxed as ordinary income.

Just-Lisa-Now-
Level 15
Level 15
Is that the line labeled 897 gain?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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lferonti
Level 3

It is a long term stock but on the 1099-B it is labeled at Ordinary Gain.  That's why I'm confused.  The date purchased is way beyond one year ago. I am not sure how to deal with this.  There is also Interest Shortfall on contingent payment debt related to this stock.  

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