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Get your taxes done using TurboTax
Related to this, I have no 1099-B from my foreign broker, but I did generate a TXF including wash sale adjustments and indicates each trade is Box C. I select Yes, I received a 1099-B from my broker in order to use the TXF import feature. I notice that when I import the TXF and it fills out the generated 1099-B, it checks the box for "Transaction not reported to you on 1099-B".
When I go to the Forms window and click on Form 8949, it's all filled out due to this. Also, when I check Schedule D, in box 1a where you list totals for all short-term transactions reported on 1099-B, the boxes are empty. The box instructs that "if you choose to report all these transactions on Form 8949, leave this line blank)".
From what I understand, Turbotax will submit the Form 8949 which is fully filled with all my foreign trades, and not try to submit the 1099-B that was being filled out when I imported my TXF. So even though I selected "Yes I received a 1099-B from my broker", there should be no problem with this. Am I right or wrong?
When I go to the Forms window and click on Form 8949, it's all filled out due to this. Also, when I check Schedule D, in box 1a where you list totals for all short-term transactions reported on 1099-B, the boxes are empty. The box instructs that "if you choose to report all these transactions on Form 8949, leave this line blank)".
From what I understand, Turbotax will submit the Form 8949 which is fully filled with all my foreign trades, and not try to submit the 1099-B that was being filled out when I imported my TXF. So even though I selected "Yes I received a 1099-B from my broker", there should be no problem with this. Am I right or wrong?
‎June 6, 2019
1:45 AM