topic Re: 8949 missing items present in worksheets in Get your taxes done using TurboTax

8949 missing items present in worksheets

dhar5861 — Thu, 13 May 2021 02:07:57 GMT

Reviewing my taxes in the desktop version of TurboTax Premier 2020, lots of stock and options trades present in the 1099-B worksheets are missing from the 8949 forms. For example, looking at a worksheet, out of two options for the same stock that differ only in the strikes and buy/sell dates, both are present in the worksheet, but only one gets reported on 8949, the one for a loss, while the other side of the spread that generated the 2x profit is missing. On the bright side, when I go to Schedule D and look at lines 1a and 1b, the totals do add up correctly. What is the problem? This appears to be a commonly reported issue with no resolution from Intuit.

Re: 8949 missing items present in worksheets

rjs — Thu, 13 May 2021 02:52:08 GMT

There is no problem. Transactions that are included in the totals on Schedule D line 1a are not reported on Form 8949. Line 1a is a summary of transactions that do not have to be reported on Form 8949. The description on line 1a explains it.

Re: 8949 missing items present in worksheets

dhar5861 — Thu, 13 May 2021 02:58:44 GMT

If that were true, there should be no 8949's at all. Instead, the 8949's TurboTax is producing appear to be a random sampling of transactions it recorded in its worksheets.

Re: 8949 missing items present in worksheets

rjs — Thu, 13 May 2021 03:13:55 GMT

I don't know exactly what makes TurboTax report a transaction on Form 8949 instead of Schedule D line 1a. But since the totals are correct it appears that your tax return is correct. Using Schedule D line 1a is an option, not a requirement. The IRS is not going to complain about transactions on Form 8949 that could have been included in Schedule D line 1a.

Do the transactions that are shown on Form 8949 have adjustment codes in column (f)? If so, they have to be on Form 8949. They cannot be included in Schedule D line 1a.

Re: 8949 missing items present in worksheets

fanfare — Thu, 13 May 2021 03:29:08 GMT

TurboTax developers decided to do you a favor and reduce the number of details lines on form 8949 where allowed by the exception for covered transactions with no adjustments.

If you can figure the algorithm being used, let us know.

You have the option to choose to list all transactions on Form 8949, ignoring Schedule D line 1a. TurboTax is now denying you that option.

Re: 8949 missing items present in worksheets

dhar5861 — Thu, 13 May 2021 03:33:13 GMT

No adjustments. Like I said concerning the example I gave, the items were identical in the worksheet except for strikes and dates. In particular, they are both 8949 Box A, Basis Reported, Reported on 1099B. One was included in the 8949, while one was not. Makes no sense to treat one differently than the other.

Re: 8949 missing items present in worksheets

Mike9241 — Thu, 13 May 2021 06:29:58 GMT

I agree with you. you do have the option of deleting the import (all trades will be deleted) and then just entering type A summary totals (no adjustments allowed) in that section of the 1099-B worksheet. the same could be done for type D, (no adjustments allowed). then you would have to enter manually any type B,C,E,F or other or any type and any type A or D with adjustments.

can't say whether your situation is a Turbotax programming issue or an issue with the way your broker is transmitting the info.

Re: 8949 missing items present in worksheets

dhar5861 — Fri, 14 May 2021 02:21:54 GMT

I tried starting over from scratch. In the section of the program where you review imported data, everything was there. Once again, everything is there in the worksheets. However, in the final set of 8949's, you know, the important ones, the ones that get sent to the IRS, only about 1 out of 6 are there. What utter garbage.