Noncovered Securities not reported on 1099-B

[cadurant]

I desposed of private company stock that is not reported on a 1099-B.  I entered the sale on form 8949 with an override.  The software said I can't efile using this method.  This is contrary to other tax authority.  TurboTax tech support said their is not way around it.

Does anyone have experience with reporting the desposition of noncovered securities not reported on a 1099-B?

[rjs · Accepted solution]

Any override prevents e-filing. Remove all overrides from your tax return. Delete the Form 8949. Enter the transaction using the Step-by-Step interview instead of forms mode. When you get to the screen where you have to select the sales section, select "Short-term did not receive 1099-B form" or "Long-term did not receive 1099-B form" as appropriate.

Entering investment sales in forms mode is very complicated and error-prone. TurboTax strongly recommends using the Step-by-Step interview to enter investment sales.