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CghLzh
New Member

Tax Return reporting a Box F entry on Schedule D.

 
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3 Replies
K M W
Employee Tax Expert

Tax Return reporting a Box F entry on Schedule D.

When your question asks about Box F entry on Schedule D, I presume you are referring to how to report a sale of a capital asset when a 1099B has not been received.  In this case, you would still report the sale on your tax return starting with entering the required information on Form 8949 (description of item sold, date acquired, date sold, proceeds, cost basis, and then calculated gain or loss).  Although sale of capital assets that are held in your brokerage firm will usually be reported on a 1099B, a sale of a personal item may trigger a reporting requirement on your tax return. For example, let's say you bought a furniture set for $1000, and two years later  you sold that furniture set for $1200. Since you had a capital gain, you are required to report this transaction on your tax return. In this situation, you would report the sale on Form 8949 using the Box F section - long term transaction that was not reported on a 1099B.

 

I hope that answered your question - if not, please post a follow up question with more specific information on your question.

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CghLzh
New Member

Tax Return reporting a Box F entry on Schedule D.

This confirms what I know but I don’t know how to enter it in TurboTax. The online expert told me I had to generate a 1099 of my own just showing a one time sell.  What i want to generate is an 8949 that will then become the information for the Box F. I could not get information on how to do that on TurboTax. Please give me some direction. 

DRich5
Employee Tax Expert

Tax Return reporting a Box F entry on Schedule D.

@CghLzh - Can you share a little more information about what was sold and if you received a tax form such as a 1099-B or 1099-CONS form related to the sale??  Are you referring to Column F on the Form 8949??  The 8949 rolls into the Schedule D.  You would use Column F if the 1099-B is incorrect, you are excluding or postponing a gain, have a disallowed loss or other situations.  The most frequent item in Column F - Is code W, Wash Sale.  

Entering that information into TurboTax, you will enter the sale and there should be a check box that says "I need to adjust my total cost basis", here you will enter the amount in Column F and click on the adjustment code. 



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