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Level 1
posted Mar 7, 2024 9:53:26 AM

TT Business: Broker's 1099-B Summarized Entry Applied Incorrectly to Schedule D, Part II, line 10 instead of line 8a (or 8b)

After entering a long term, summarized entry from a broker's 1099-B, where the cost basis was noted to have been reported to the IRS and Box D checked, TT incorrectly entered it onto form Schedule D, part II,  on line 10 (with box F checked.) This is wrong. It should have been entered on line 8a (box D checked). There was nothing I could do within step-by-step to make entered data to appear on line 8a. This appears to be a bug. I had to manually enter the data on schedule D directly. The second view below (Schedule D) shows the result of manually doing this. (being a non-accountant, I hope this was the correct way to do this)

 

CORRECTED SCHEDULE D:

 

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1 Replies
Expert Alumni
Mar 8, 2024 1:24:51 PM

Yes, this was done correctly if the entry in line A matches the 1099B received.