1948377
I read that "When your Category A,D transactions on your 1099-B have no adjustments, Form 8949 is not required"
I had a total of about 150 trades. There was only about 36 trades reported on form 8949. Only one of these 36 trades had an adjustment ( a wash sale ) So my question is why weren't all the trades reported on form 8949 or only the one trade with the wash adjustment?
I imported the 1099-B from etrade.
Just want to make sure I don't trigger an audit because most trades were not on form 8949. Something must be triggerring TT to create form 8949 from the 1099-B entry and its not always an adjustment like a wash sale.
There has to be a logical explanation
Thanks in advance
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I entered a transaction in TurboTax as a test, by using code "D" and it showed up on form 8949, which flows over to schedule D. I believe this is how TurboTax handles all stock sales reported on a form 1099-B. So, I am surprised that you mention that only a few of your sales show on form 8949, don't the totals of that form agree with what is reported on your schedule D?
Only about 36 of 150 trades are reported on form 8949, but for everything that is reported on form 8949, the total of these entries is correctly reported on Schedule D in box 1d. Note that only one of these entries on for 8949 has an adjustment for a wash sale.
For all the stock trades where there is no entries on form 8949, the total of the trades is reported on Schedule D in box1a. If you look at schedule D, the description of box 1a is all trades where the basis is reported to the IRS AND there was no adjustments. But this is also true for 35 of the 36 entries reported on 8949.
So again, all I am trying to understand is why a small number of trades with no adjustments are reported on form 8949, and the rest are just totalled and put in box 1a on schedule D. I don't understand the inconsistency
as of 2019 Turbotax started to apply a strange rule for what detail to include on Form 8949.
It is not consistent
Another issue that the developers have to address (someday)
If you have this issue, you need to triple check all your subtotals on Line 2 of 8949 against the totals shown on Schedule D. and your 1099-B.
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