topic can't add an adjustment code to 1099-B in Get your taxes done using TurboTax

can't add an adjustment code to 1099-B

mshuang1 — Wed, 14 Oct 2020 19:50:04 GMT

Hi there

I'm trying to use "M" as an adjustment code to a 1099 B and the field is highlighted red and won't let me enter this code. It doesn't let me enter most codes in fact. It did however let me enter B as i was just trying random ones? any idea what's going on?

Re: can't add an adjustment code to 1099-B

rjs — Wed, 14 Oct 2020 20:43:10 GMT

You didn't say what version of TurboTax you are using. It sounds like you're using the CD/Download software, and trying to enter your 1099-B in forms mode. Doing it that way is very complicated and error-prone. You should enter your investment sales in the Step-by-Step interview. If you select the option to enter a summary instead of entering each sale, TurboTax will enter the adjustment code M.

If you have further questions, please say whether you are using TurboTax Online or the CD/Download TurboTax software, and what edition (Basic, Deluxe, etc.).

Re: can't add an adjustment code to 1099-B

fanfare — Wed, 14 Oct 2020 21:06:43 GMT

TurboTax won't let you pick any Code, as you have discovered.

They have to be implied by the selections you are making in the entry panels.

M is the mail in election. if you enter a summary other than Category A or D, you are going to find an "M" on one or more forms 8949.

TurboTax has been seen to do strange things when printing Form 8949 this year.

Re: can't add an adjustment code to 1099-B

CedarOaks1976 — Wed, 14 Oct 2020 21:10:09 GMT

oops, sorry.