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Get your taxes done using TurboTax
I have the same problem using TurboTax Deluxe 2022. After importing the 1099-B from Schwab, TurboTax does not show any individual sales at all, only the account number and balance. I would like to just skip the import for the 1099-B and enter all the sales myself. The 1099-B says to check Box A on Form 8949 for short-term gains reported to the IRS and Box D for long-term gains reported to the IRS. If I check these boxes and then enter the sales myself with costs that don't match the 1099-B, is that going to be acceptable to the IRS? My problem is that Schwab applied the oldest purchases first to all sales, giving me a much greater gain than I was expecting. I wish to apply the highest cost purchases first to reduce the amount of gain.
‎February 19, 2023
11:32 AM