When filling out the 1099-B info on TurboTax, I chose to enter in a summary since I have a lot of transactions. However, I'm having trouble as to how I should fill out the rest of the information. My 1099-B looks as follows:
After filling out the easy stuff in TurboTax, I checked the box where I need to enter "amounts from box 1f, box 1g, or other adjustments". It brought down the following boxes:
Do I just add the [N/A Total Gain/(Loss)] and the [1g] box together [so $-500 + $7] to get the Total adjustments to gain or (loss)? For the adjustment codes, I think I use an 'M' since it is a summary and a 'W' since I'm also including a Wash Sale. Would someone be able to please clear this up for me? Thanks in advance!
No, when you enter summary information TurboTax figures the amount of Gain/Loss. The only adjustment you enter is the $7 for the Wash Sale and the Code is W.
That's great that you know that code is a W!! On my Edward Jones statement, there are no codes that I can find. So do they use W for wash, G for gross proceeds, C for cost basis? Where do you find the hidden codes?
You said put in "W" as code...Where do you get the "w" from. It is not on the form?
RE: 1099 R Why am I asked questions on this when I did not enter info for 1099 r?
You might have accidentally added a 1099-R:
Follow the steps below to delete the Form 1099-R.
1099-B Confusion and Adjustment Codes - box 1f & 1g
My 1099-B looks as follows:
Do I add $7 + $40 = $47 and enter both codes W & D?
Tx!