Hello!
I auto-imported my brokerage 1099 into Turbo Tax. It brought in all my trades from what I see. I'm going through my Noncovered Securities (where I need to manually enter cost basis for each trade) and I'm noticing the following:
- My 8949 (brokerage gave me) shows separate line items for a couple transactions but the Turbo Tax import appears to have combined these amounts and are added as a single line. Is this ok? Or do I need to make them separate transactions like my 8949 shows?
- My 8949 (brokerage gave me) has a very slightly different value (off but a few dollars) compared to the Turbo Tax imported 1099 line item. Do I need to cross check this on my 1099 and fix?
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You can combine sales when you sold different lots on the same day.
enter the appropriate cost basis. Use "various" for Date Acquired.
For cross-check purposes you may want to enter each one separately.
TurboTax now stymies you if you want details of Box A or Box D listed individually.
That should not be an issue for Box B or E since you have to enter the correct basis but maybe it will be an issue for you also.
For Box B or E, with missing or wrong basis, enter the correct basis and Code B in col (f).
In Col(g) enter -0-.
If you're getting bad aggregation by TurboTax, you may have to enter Code B for every transaction.
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