Chicken or Egg: Schedule D or Form 8849

Forum|Forum|2 years ago
December 29, 2023
2 replies
36 views

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.

DoninGA

Level 15

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

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.