JosephS1
Expert Alumni

State tax filing

Yes, there is another way but it may, honestly, entail a bit of annoyance to accomplish it.  While maybe not be the ideal solution, if you have a paper copy of your investment accounts you can enter the data manually as single transactions.  

 

First, you should delete the multiple transactions that pertain to your wife on the Federal side.  Make sure you are listed as the investor on the transactions you have entered for yourself.

 

For Capital transactions, not including crypto, the following steps should be of help:

 

The 1099-B should guide you on what the treatment will be for including the trades on your return.  Generally, your 1099-B should show the caption for the type of trade that it was - Short-term covered with basis reported to the IRS, Short-term not covered, Long-term covered, Long-term not covered.  Each section of the 1099-B needs to be entered separately.  You are allowed to combine transactions as one provided they are from the SAME grouping.  You enter the transactions in the Investment section of TurboTax as follows:

  1. On the left side of your TurboTax screen, click on Wages & Income
  2. Scroll down to "Investments & Savings" and click show more or edit/add
  3. Click on "Add Investments"
  4. Best thing to do here in my opinion is to click on "Enter a different way"
  5. Click on the box for Stocks, Bonds, Mutual Funds and then continue
  6. Enter your brokerage firm at the top and the account number and Payer's EIN if you so choose (not required)
  7. Answer the questions on the next page, which are normally, but not always, no, no (in this case even if it is more), no, and yes.
  8. You can answer one by one and enter each group separately; if you answer yes you will need to upload a pdf of your statement.  I do not recommend uploading a pdf in this case.
  9. If your grouping has multiple sales, when you are asked the date acquired, click on something other than a date and choose various
  10. Follow the remaining instructions and choices.  Whichever way you answer you will receive additional instructions

It may be a tedious way to go about it but it should assist in lowering the transaction numbers and assist you in identifying whose transactions you are actually accounting for.

 

@User4983951 

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