Divorced last year and sold all the stock in an account. I received a 1099-B with short term and long term gains from the sale of stock. How do I change my gain to 50%?

[robsuts]

Turbotax online does not allow me to fill out form 8949. How do I initiate the adjustment on the online version.

[JamesG1 · Accepted solution]

How do I change my gain to 50%?

Is your intent to only report 50% of the sales while the other partner reports the other 50% of the sales?  Or something else?  Please clarify.

If this is you intent, and you have three sales to report, each partner would be able to report each of the three sales but only reporting 50% of the box 1d Proceeds and 50% of the box 1e Cost or other basis.  However, retain all records should a tax authority have a question at a later time.

In most cases, an IRS form 8949 is created when the IRS form 1099-B transaction is entered in the software.

In TurboTax Online Premium, you may enter the IRS form 1099-B by following these steps: 

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Scroll down to Investments and Savings and click the down arrow to the right.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• Click Add investments.
• At the screen Save time and connect your financial accounts, click Enter a different way.
• At the screen How do you want to add your docs?, click Type it in myself.
• At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds.  Continue.
• At the screen Which bank or brokerage is on your 1099-B, enter the information. Click Continue.
• Do these sales include any employee stock, click No.
• Do you have more than three sales on your 1099-B, click No.
• Do these sales include any other types of investments, click No.
• Did you buy every investment listed on your 1099-B, click Yes.  Click Continue.
• At the screen Now, choose how to enter your sales, select One by one.  Click Continue.
• At the screen Look for your sales on your 1099-B, click Continue.
• At the screen Review this XXX sale, enter information. Click Continue.
• Repeat as necessary by clicking Add another sale.  Click Continue.

At the screen Now, choose how to enter your sales, you may also select Sales section totals and import a .jpg of the IRS form 1099-B.

[robsuts]

Thank you 

It was key for me to do this step..

At the screen How do you want to add your docs?, click Type it in myself

As I had 300+ sales transactions and I could just do the summary and reduce it by 50%. 

Best