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jgrusler
Returning Member

How I enter the stock exchange of Nokia for Alcatel Lucent from form 1099B into form 8949 or Schedule D?

The downloaded 1099B shows the results of the stock exchange with Alcatel Lucent as 8.8 shares of Nokia, not the exchange of the 16 shares of ALU stock. When I edit the description line on the 8949, it turns red and an error messages states not to change the information because the IRS can't recognize the transaction. The 1099B has the applicable box marked with an "X", cost basis is blank, and number of shares is wrong. This result is a gain for the total proceeds. 

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2 Replies

How I enter the stock exchange of Nokia for Alcatel Lucent from form 1099B into form 8949 or Schedule D?

I would remove the download of this transaction as the exchange of the shares is messing things up.  I would manually enter this in TurboTax.

For more detail and help I answered this question earlier is here is a helpful link:

https://ttlc.intuit.com/replies/5929901

Here is also someone else's answer on this same subject.


https://ttlc.intuit.com/replies/5907736

Hazel1
New Member

How I enter the stock exchange of Nokia for Alcatel Lucent from form 1099B into form 8949 or Schedule D?

The tax basis worksheet is not helping me figure out how to enter this sale. I had the same problem, 24 shares exchanged for 13.2, with TurboTax entering it as a sale of 13.2 shares and a sale of 0.2 fractional shares.  How should it really be entered?  If I leave it as it downloaded and enter my cost basis, it comes up with a loss, but then asks whether I put the sale into new shares - it was an exchange, so new shares of Nokia were received. But I am not sure how to answer.
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