How do you enter a negative adjustment in the business 8949? Problem with 8949 in the Business software for 1041 Trust returns.

[Rubykinglet]

I am talking about adjustment for accrued market discount for treasury sales. The regular Deluxe software for 1040 works for my 8949, just not the business 1041 software.

[tagteam]

You cannot enter this in Step-by-Step?

[Rubykinglet]

No, my step by step only asks if I have any adjustments and when I answer yes it only allows a positive number. This is the Business software using the Trust 1041

[tagteam]

Yes, my screenshot is from TurboTax Business.

The figure is entered as a positive number in Step-by-Step but is negative on the 8949.

[Rubykinglet]

It does not work that way for me. I enter as positive on step by step and it stays positive on the created 8949. My step by step doesn't look like yours.

[tagteam]

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@Rubykinglet wrote:

It does not work that way for me. I enter as positive on step by step and it stays positive on the created 8949. My step by step doesn't look like yours.

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It should look exactly like mine if you're using TurboTax Business.

Where are you entering the transaction in the program?

[Rubykinglet]

Investment Income, which allows me to enter my 1099-B box A Box B Box D Box and Box E. When I start with one of the Boxes, like Box A, I only have two entries Total Proceeds and Total Cost Basis and a question about if I have any adjustment codes for 8949. I answer yes and get one entry box that only accepts a positive number and the 8949 that gets created is also positive. I do not get your screen. I have tried deleting and entering with no difference.

[Rubykinglet]

I am using Turbotax Business 2023 winbizrelease  023.000.234

[tagteam]

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@Rubykinglet wrote:

Investment Income, which allows me to enter my 1099-B box A Box B Box D Box and Box E. When I start with one of the Boxes, like Box A, I only have two entries Total Proceeds and Total Cost Basis....

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Stocks, Mutual Funds, Bonds, Other? Is that the section you're using under Investment Income?

We have exactly the same software so our screens should look exactly the same unless you somehow selected the wrong type of return or are in a different section of the program.

[tagteam · Accepted solution]

Note: Make sure you did NOT check the box at the bottom of the screen that reads, "I have many sales and would rather make summary entries".

@Rubykinglet 

[Rubykinglet]

I did answer that I wanted to do a summary. I could not find a way to change that so I started a new return and didn't answer for summary and I now have the same screen as you do. So I will see if that works for me. I will let you know. Thanks

[Rubykinglet]

Ok I started over and entered all my detailed sales and did not mark for summary entry. I did have to enter the accrued market discount as a positive and it created the 8949 with a negative and added that amount to my interest income as it should. So all is good now. Thank you