Bug report - cannot enter Sales category Box X

[jllatimer]

Path: Step-by-Step view, Investment Income, Stocks, Sales entry

The screen for proceeds and cost basis requests a Sale Category with pull-down menu.  The pull-down menu does not include "Box X".  The software then shows this as a error if a selection is not made and arbitrarily assigns the Sale Category as Box C (on the summary screen) if no selection is made.

The Form view, however, handles this correctly, and offers "Box X" in the pull-down menu.  However, Turbotax does not display this correctly if one then goes back to the Step-by-step view and edits the entry.

[hbl3973]

jllatimer,

Box X is not an option on the 8949 form.  The IRS states:

"If you received a Form 1099-B (or substitute statement) for a transaction, box 2 may help you determine whether your gain (or loss) is short term or long term or subject to special rules. If box 2 is blank and code X is in the "Applicable checkbox on Form 8949" box near the top of Form 1099-B, your broker doesn't know whether your gain (or loss) is short term or long term. Use your own records to determine whether your gain (or loss) is short term or long term."

You need to select B (short term, proceeds reported, basis not reported)   or E (long term, proceeds reported, basis not reported) using your own records.