Hello, for entering 1099B in the income section, TurboTax has 2 options "I'll enter one sale at a time" and "I'll enter a summary for each sale category". When I chose the "enter a summary", TurboTax says to enter total proceeds, total cost basis, and choose a sale category (in this case, I chose A for short term covered transactions with cost basis reported to IRS, and D for long term covered transactions). TT then completed the entries and moved to the next topic, and a Form 8949 is not generated, since TT seems to indicate form 8949 is not needed if I enter a summary of category/box (A) and (D) capital gains with no adjustments. The (A) and (D) summary gains/losses are then shown on line 1a and line 8a on schedule D, respectively.
According the some of the sources that say form 8949 needs to be filled out to support schedule D (and the summary of A and D sales would be entered on line (1b) and (8b) on schedule D), I chose "enter one sale at a time" on the TT 1099B entry screen to try to generate a form 8949. In trying to enter a one line summary for all the box (A) short term covered transactions, I entered the brokerage name, such as "American fund", in the description box (1a), and when I tried to type "various" in the acquisition date box (1b) and date of sale (1c) box (I was told by a CPA to use "various" for the acquisition and sale dates when entering one line summary on form 8949), as soon as I typed a letter "v" in each box, TT automatically filled each box with "various". However, after I typed in the data and tried to continue to the next screen, TT highlighted the box (1c) "date of sale or exchange" in red with a message "please fill in or correct the highlighted info below". So TT does not accept "various" in the "date of sale" box. And I cannot just put in one summary total line for all the box (A) transactions and one summary line for all the box (D) transactions on form 8949 generated by TT. I have 90 line sales transactions and prefer not to enter them individually on form 8949. And I want to file a paper return. Please advise. Thank you.
