8949 missing items present in worksheets

Forum|Forum|5 years ago
May 13, 2021
1 reply
8 views

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.

rjs

Level 15

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.

dhar5861Author

Level 2

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.

rjs

Level 15

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.