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DDNessel3
Returning Member

1099-B order of data entry different for different sales

In the desktop Turbotax, Personal Income tab, I entered 1099-B data and noticed these discrepancies in the wording and order of items in the form: 

For my Sale #1, the order of data entry was 1a-description, 1c-date sold, 1b-date acquired ...

For my Sale #2, the order of data entry was 1a-description, 1b-date of acquisition, 1c-date of sale or exchange ...

So the wording was different and the order of items was different. I did manual data entry, but I'm still concerned about the discrepancy as I don't know how it may affect the calculations going forward.

This is not something I can change myself; the code needs to be revised.

 

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5 Replies
Kat
Alumni
Alumni

1099-B order of data entry different for different sales

@DDNessel3 Are you saying that in the TurboTax PROGRAM the entry order was reversed?  Or was it on your 1099s?

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
JamesG1
Employee Tax Expert

1099-B order of data entry different for different sales

Are you able to track your entries correctly to the Federal tax return? 

 

In TurboTax Desktop Premier version, I was able to enter three 1099-B stock sales. 

The sales were entered by hand at the screen Tell us about this sale.

 

The order of entry for each sale was:

  • Description,
  • Date sold,
  • Date acquired,
  • Sale proceeds, and
  • Cost or other basis.

The entries appeared to flow to the 8949, Schedule D and Federal 1040 correctly.

 

 

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DDNessel3
Returning Member

1099-B order of data entry different for different sales

The entry order in the Turbo Tax PROGRAM was reversed for Sale #1 but not for Sale #2. I have screen shots to prove it! I was in the EasyStep mode of the program. I quit out of Turbo Tax and started it up again a short while later, and at that point, the entry order for Sale #1 was correct in the PROGRAM. I have another screen shot to prove that. That is, the glitch corrected itself, and when I went to Forms in the program, the relevant 1040 form also appeared to be filled in correctly. So I guess everything is OK. But it was a disconcerting glitch. 

DDNessel3
Returning Member

1099-B order of data entry different for different sales

After encountering the glitch that I reported (and taking screen shots to prove the incorrect order of data entry for Sale #1 and the correct order for Sale #2), I quit out of Turbo Tax. When I started the program up an hour later and went back in to the Easy Step mode, the entry order for Sale #1 was now correct in the program. I have another screen shot to prove that.

     The order of entry that I now see (and that I expect to see because it matches my 1099-Bs) isn't what you saw, though. I'm using the Home & Business product, and the data entry is:  1a Description, 1b Date Acquired, 1c Date Sold, 1d Sale price., and 1e Cost or other basis.

    The glitch appears to have corrected itself, and when I went to Forms in the program, as you suggested, the relevant 1040 form also appears to be filled in correctly. So I guess everything is OK. But that was a disconcerting glitch because I actually entered the data incorrectly on the first try (manually) because the TurboTax form didn't match the 1099-B I was working from. I changed my data entry to match the TurboTax form, only to discover that Sale #2 had an order of entry that matched the order on my 1099-B. That's why I posted my comment.

    Everything seems to be OK now, I am glad to say, but I suspect there's some kind of bug in the program.

Kat
Alumni
Alumni

1099-B order of data entry different for different sales

@DDNessel3 What a freak thing!  Thanks for posting back to notify us that the glitch has resolved itself.  Hopefully, things will go smoothly until you've completed your filing!

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

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