A turbotax glitch seems to have omitted all the stock and option trades at one of my brokers from the 8949 form entries. i did import the 1099-B from that broker

[Ikk]

a turbotax glitch seems to have omitted all the stock and option trades at one of my brokers from the from 8949 entries. I did import the 1099-B from that broker (among other brokers), and the total gain/losses amount on my 1040 (as generated by turbo) is correct. so apparently turbotax has all the correct and complete 1099-B info. it just glitched out and omitted those trades from one of my brokers on the 8949s, so now the total trading gain/loss on my form 1040 and form 8949s (all generated by turbotax) don't add up. anyone else experiencing this? too bad i filed before catching this. the broker affected is Interactive Brokers

[chamnessd]

I am having the same problem only with e-trade.  After importing the transactions appear to be loaded into turbo tax when I look at the 1099B worksheet, but do not show up on form 8949 except the wash sales.

[chamnessd]

Here is a follow up to my last post.  I am using version [phone number removed] Turbo Tax for Business on a Windows 10 OS.

[chamnessd]

So much for trying to be helpful.  The version is v[phone number removed].

[TiffanyL]

@LKK, please see the FAQ link posted below to assist with the issue you are having:

How do I fix my 1099-B negative values?

[chamnessd]

I don't mind waiting.  However, I am not sure this is a negative proceeds issue.  There are option contracts that I sold and term of the options expired.  The only thing that makes this difficult is the sale date (the date the contract was written) is before the date acquired (the date the option expired).  Hypothetically, here is an example of an entry on the 1099B:

Date Sold:  01/15/20

Date Acquired:  02/15/20

Sale Proceeds:  1000.00

Cost or other basis:  0.00

Is this what you mean by a negative proceeds transaction?

[fanfare]

@chamnessd  et. al.

As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

Sometimes,

TurboTax takes note of this rule, and if the conditions are met, Form 8949 will not be attached to your return even when you do not use the summary option..

Or, it will suppress the transactions without adjustments.

It is not good behavior.

[fanfare]

If you do see wash sales,

check the subtotals on 8949 Line 2 Schedule D line 1a and Schedule D line 1b. to verify that it all matches up with your consolidated 1099-B,

please post back if it does  or does not match up.

[chamnessd]

So the proceeds are off by $10.00 and the cost basis is off by $2.00.  Close enough.

[chamnessd]

That was not the case for the 2019 version of turbo tax.  As a matter of fact I had more transactions in 2019 than 2020.  I use the the form 8949 to reconcile back to my personal recording of my transactions.

[fanfare]

additional discrepancies are caused by new rounding rules that TurboTax put in place this year. That is a separate issue but has caused a lot of problems for filers using TurboTax.

[chamnessd]

As a computer programmer myself, I can appreciate the problems with rounding.  Let me ask you.  Will the update in late March fix my problem or am I stuck with the summary method?  It would be nice if there was an option to chose.

[keepmovin]

I am having the same problem.  Did you figure this out?

[chamnessd]

I talked to TurboTax and it is unclear if they are going change this.  The tax law allows for this.  In previous tax years they gave you the option to report each trade on the Form 8949 or on the aggregate.  Now it seems that unless there is an adjustment TurboTax is going to report on the aggregate.

[fanfare]

The exception is for Category A or D transactions without adjustments.

There is no exception for anything else.

You have the option to itemize those transactions anyway; TurboTax is denying you that option.

I don't have TurboTax 2020 so I can't see what it does with Form 8949 Category B.