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Level 1
Dec 29, 2023 6:59 PM UTC
Question

Chicken or Egg: Schedule D or Form 8849

I have tried to enter the information on form 8949, but TurboTax says that form is automatically generated when I enter information into schedule D. The problem is, it won't let me enter any information in schedule D.

 

Where in my Mac Desktop software do I enter a sale in the Schedule D input and the system generates the 8949?

 

I am trying to enter the information for the sale of an inherited home -- reported to me on 1099 – S. 

    2 replies

    DoninGA
    Level 15
    Level 15
    Dec 29, 2023 7:09 PM UTC

    The Investment sale section to report the sale of an inherited property will not be available until January 4, 2024.

     

    To enter an investment sale -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Under Investment Income
    On Stocks, Mutual Funds, Bonds, Other, click the start or update button

    rjs
    Level 15
    Level 15
    Dec 29, 2023 8:11 PM UTC

    You cannot make any entries directly on either Schedule D or Form 8949. Asset sales have to be entered on a Capital Asset Sales Worksheet. From there, the information will flow to Form 8949 and Schedule D. But entering asset sales in forms mode is very complicated and error-prone. It would be much easier and safer to wait a week and use the Step-by-Step interview to enter the sale.