How can I ensure all my Capital Gains information shows up under Form 8949, and not on 1099-B (Schedule D, Part 1, 1a)?

[Rswl11]

My Long Term entries for Janus Henderson funds in Capital Gains showed up on Schedule D (Form 1040), Part II, line 8a instead of line item 8b - under form 8949 with Box D checked. All other entries from other investments showed up on line 8b. I want to see thes on on line 8b, but do not know what to do to adjust this.

[hbl3973]

Rswl11,

Your message title was confusing, talking about Schedule D, Part 1, 1a, when the body of the posting talked about 8, 8a.  In any event, I take it that you imported 1099-B information from Janus funds and they reported it to TurboTax as a summary rather than a sequence of individual long-term trades.  As you most likely realize, that is allowable so long as the set of transactions was clean, i.e. had no wash sales or other adjustments, as allowed on pages 2-3 of the Form 8949 instructions (https://www.irs.gov/pub/irs-pdf/i8949.pdf). 

One workaround I can suggest to force every Janus capital gains transaction onto Form 8949 is to delete the Janus funds entries and put them in manually.  This is, of course, only a cosmetic change that does not change the income and tax, but as one who does manually list everything on Form 8949, I can appreciate the aesthetic.

I played around with TurboTax to see if manually reporting multiple individual clean sales triggers an entry in Schedule D, line 8a.  It didn't, which strongly supports that Janus only transmitted the summary and not individual entries.  However, if TurboTax is actually showing individual Janus entries but somehow TurboTax was coerced into transferring their totals to Schedule D, 8a, rather than deleting and reentering manually, you could try modifying two of the entries to say that their reported basis was incorrect (code B) or an adjustment was needed for some other reason (code O) and adjust one up by a dollar and the other down by a dollar.  This would prevent the Janus items from satisfying the summary reporting exception and force them onto Form 8949 while not changing the income and tax on your return.

Let me know what you decide to do, if anything.  Inquiring minds want to know:-)

[brich22152]

I manually input data into the SW using the Box D input box and the data shows up on schedule D in line 8a and not 8b. When I print out the backup only 1  8949 form prints and it has data on my Box A and Box E transactions. The Box D should be on another 8949 form but does not show in list. What shows in the forms list is 8949 copy 1. Please assure that I can submit as is. I need my refund ASAP.

[hbl3973]

brich22153,

So long as the sum of the long term proceeds and cost basis amounts match up to what you expect, then you are fine.  

[caron12]

I show a net loss of $7004  on my form 8949. Can I claim this as a deduction as if so where do I enter it?

[hbl3973]

caron12,

TurboTax will automatically deduct up to $3,000 of net capital loss against the rest of your income.  If your capital loss was even more, the rest must be carried over to next year's return. Carryover continues year after year until the loss is used up.  So, unless you had other capital gains such as mutual fund capital gains distributions, you don't get to use the full loss for this tax return.

As to the concern about Box D showing up without an 8949, that will happen if there were no adjustments such as wash sales for those Box D transactions.