On form 8949 if I check Box B on Part 1 and I use Code B in column (f) - do I put the cost basis is column (g)?
Turbo Tax Premier is not allowing me to do this
.Per instructions from Deloitte this is correct.
If I read IRS instructions for form 8949 it shows this for Code B:
You received a Form 1099-B (or substitute statement) and the basis shown in box 1e is incorrect
Do:
If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g).
is column (e) or (g) correct?
follow the IRS instructions
Do: If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g).
personally, with type B and E transactions meaning the cost basis is not reported to the IRS, I put the correct cost in column e if needed and enter no code in column f or anything in column g
follow the IRS instructions
Do: If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g).
personally, with type B and E transactions meaning the cost basis is not reported to the IRS, I put the correct cost in column e if needed and enter no code in column f or anything in column g
refer to the Instructions for Form 8949.
It tells you how to use code B, and when you should put an amount in column (g).
It is not personal preference.